A-share high-price tech stocks plunge; Lianxun Instrument drops over 6%, sector rotates to pharma
On September 21, A-share's highest-priced stock, Lianxun Instrument (688808), fell over 6% after an intraday drop exceeding 7%, leading a broad decline in high-priced tech stocks. Other hard-tech names like Pinzhun Laser and Yushu Technology-W fell nearly 4%. The tech sector led market losses, with sub-sectors including advanced packaging, lithography, HBM, and memory chips declining. Chip testing stock Liyang Chip dropped nearly 13%. In contrast, funds rotated into the pharmaceutical sector, where innovative drug stocks surged. Huaxi Securities forecast a divergent tech recovery shifting from speculative themes to fundamentals-driven pricing. AVIC Securities noted small-cap stocks face pre-holiday pressure while large-cap and consumer sectors outperform.
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A-Share 'King' Stock Plunges; Tech Stocks Lead Declines in Afternoon Session
On September 21, A-shares' most expensive stock, Lianxun Instrument, fell sharply in the afternoon, dropping over 6% after a decline exceeding 7%. Other high-priced new stocks also performed poorly, with stocks like Pinzhun Laser and Yushu Technology-W falling nearly 4%, and hard-tech new stocks including Muxi Co., Hengdongguang, and Suiyuan Technology-U declining. Market funds focused on the pharmaceutical sector, with innovative drugs surging, while tech sectors like advanced packaging, lithography, HBM, and memory chips fell. Chip testing stock Liyang Chip dropped nearly 13%. Huaxi Securities forecasts a divergence in A-share tech trends, expecting a repair rally but with a shift from speculative themes to fundamentals, order fulfillment, and earnings. AVIC Securities suggests small-cap stocks face pressure before the holiday, with large-cap and consumer styles outperforming; after the holiday, TMT and growth/financial styles are expected to lead, with electronics and non-bank finance showing high win rates.
Read sourceChina's top-priced stock plunges; tech sector leads losses amid market shift
On September 21, A-share market's highest-priced stock, Lianxun Instrument (688808), fell over 6% in afternoon trading, leading a broader decline in high-priced tech stocks. Other tech names like Pinzhun Laser (688826) and Yushu Technology (688836)-W dropped nearly 4%, while hard-tech sub-new stocks including Muxi Shares (688802)-U and Suiyuan Technology (688801)-U also fell. The tech sector underperformed as funds rotated into pharmaceuticals, with the innovative drug sector surging. Sub-sectors like advanced packaging, lithography machines, HBM, and memory chips declined. Huaxi Securities commented that A-share tech stocks are expected to see a divergent recovery, shifting from speculative themes to fundamentals-driven pricing based on order fulfillment and earnings. AVIC Securities noted that before the holiday, small-cap stocks face pressure while large caps are relatively resilient, with consumer and healthcare sectors outperforming. After the holiday, TMT and growth/financial styles are expected to lead.
Read sourceA-Share High-Price Stocks Slide; Tech Sector Falls as Medical Stocks Gain
On September 21, A-share high-price stocks experienced a significant decline, with the market's most expensive stock, Lianyi Instrument, falling over 6% after dropping more than 7% intraday. Other high-priced tech stocks, including Pinzhun Laser, Yushu Technology-W, Muxi Shares-U, Hengdongguang, and Suiyuan Technology-U, also declined. The tech sector broadly underperformed, with sub-sectors like advanced packaging, lithography machines, HBM, and memory chips falling. Chip testing stock Liyang Chip dropped nearly 13%. Analysts offered contrasting views on the outlook. Huaxi Securities predicted that A-share tech stocks will experience a structural divergence, shifting from speculative momentum to a rational pricing phase focused on fundamentals, order fulfillment, and earnings. For pre-holiday trading, AVIC Securities recommended defensive positioning in large-cap and consumer stocks, particularly food & beverage and pharmaceuticals, noting that small-cap stocks face pressure. The brokerage expects a broad rally in the five days after the holiday, led by TMT sectors, and that growth and financial stocks will outperform over the subsequent 20 trading days.
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A-Share High-Price Stock Plunges; Tech Sector Leads Losses Amid Analyst Forecasts
On September 21, A-share market saw the highest-priced stock, Lianxun Instrument (688808), drop over 6% in afternoon trading after falling more than 7% intraday. Other high-priced tech stocks like Pinzhun Laser (688826) and Yushu Technology (688836)-W fell nearly 4%, while hard-tech stocks including Muxi Shares (688802)-U, Hengdongguang, and Suiyuan Technology (688801)-U also declined. The tech sector led market losses, with sub-sectors like advanced packaging, lithography machines, HBM, and memory chips falling. Liyang Chip (688135) dropped nearly 13%. In contrast, the pharmaceutical sector rallied, with innovative drugs surging. Huaxi Securities forecast that A-share tech stocks will see a divergent recovery, shifting from speculative themes to fundamentals-driven pricing based on order fulfillment and earnings. AVIC Securities noted that before the holiday, small-cap stocks face pressure while consumer sectors like food and beverages and pharmaceuticals outperform; after the holiday, TMT and growth stocks are expected to lead with higher win rates.
Read sourceChina's most expensive stock plunges; tech sector leads losses as analysts predict divergence
On September 21, A-share market's most expensive stock, Lianyi Instrument, fell over 6% in afternoon trading, leading a broader decline in high-priced tech stocks. Other hard-tech names including Pinzhun Laser, Yushu Technology-W, Muxi Shares-U, Hengdongguang, and Suiyuan Technology-U also dropped. The market's focus shifted to the pharmaceutical sector, with innovative drugs surging, while tech sectors like advanced packaging, lithography, HBM, and storage chips fell. Chip testing stock Liyang Chip dropped nearly 13%. Huaxi Securities forecasts that A-share tech stocks will experience a divergent recovery, shifting from speculative momentum to fundamentals-driven pricing based on order fulfillment, earnings delivery, and valuation. AVIC Securities advises that before the National Day holiday, small-cap stocks face pressure while large-cap and consumer sectors (food & beverage, pharmaceuticals) perform relatively well. Post-holiday, a broad rally is expected, with TMT, growth, and financial styles outperforming, particularly electronics and non-bank finance.
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