China News Service, Beijing, March 27 (Reporter Chen Kangliang) China's A-shares suffered adjustments on the 27th (Wednesday), and all major stock indexes fell. Among them, the representative Shanghai Composite Index opened lower that day. Although it rebounded during the session, It dipped again in late trading and finally fell below the 3,000-point mark.
As of the close of the day, the Shanghai Composite Index was at 2993 points, down 1.26%; the Shenzhen Component Index was at 9222 points, down 2.4%; the GEM Index was at 1789 points, down 2.81%.
Zhang Zhuoran, an analyst at Sichuan Finance Securities, said that the overall trend of A-shares has been weak recently, mainly because with the advent of the financial report disclosure period, investors have been relatively cautious, and artificial intelligence and other pan-tech technologies have experienced excessive gains in the early stage and are difficult to realize their performance in the short term. There has been a major correction in the various sectors, which has affected the market's bullish sentiment and dragged down the index performance. But we must also note that sectors with performance support and reasonable valuations perform relatively well.
As far as specific sectors are concerned, most A-share sectors fell that day. According to data from financial data service provider Oriental Fortune, the electronic chemicals sector and the Internet services sector fell 5.67% and 5.41% respectively, leading the decline; the banking sector bucked the trend and rose. This sector has risen for three consecutive trading days.
Yang Delong, chief economist of Qianhai Kaiyuan Fund, said that the recent good performance of the banking sector is inseparable from the support of performance. Banks are an industry with relatively stable profit growth. With the disclosure of annual reports of listed banks, better performance has supported the market of the banking sector. Coupled with attributes such as low valuation and high dividends, the banking sector has been favored by funds.
It is worth noting that recently, many A-share listed banks have successively disclosed their 2023 annual reports and released dividend plans, many of which are generous. Taking China Merchants Bank as an example, the bank plans to distribute a cash dividend of 1.972 yuan (RMB, the same below) per share, with a total cash dividend of approximately 49.734 billion yuan. The cash dividend ratio (that is, the cash dividend accounts for the net profit attributable to ordinary shareholders in the consolidated statement) Profit ratio) reached 35.01%. (over)