China A-shares fall at midday as PBOC drains 110.5 billion yuan in liquidity
On September 24, China's A-share indices fell at midday, with the Shanghai Composite down 0.93% to 3,900 points. The PBOC conducted a 51.5 billion yuan 7-day reverse repo at 1.40%, but net drained 110.5 billion yuan due to maturing repos. The market regulator issued new certification body rules with a 6-month transition. The National Energy Administration reported total installed power capacity reached 4.103 billion kW by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Wind power equipment, coke, textiles, and medical aesthetics led gains, while precious metals and PCB underperformed.
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China A-shares fall at midday; PBOC drains liquidity; harmonic reducer stocks highlighted
On September 24, China's A-share indices declined in morning trading, with the Shanghai Composite down 0.93% to 3900 points, the Shenzhen Component down 1.74% to 13399.34, and the ChiNext down 1.84% to 3317.33. The PBOC conducted a 515 billion yuan 7-day reverse repo at 1.40%, net draining 110.5 billion yuan due to 162 billion yuan in maturing repos. The State Administration for Market Regulation issued new certification rules for accreditation bodies, with a 6-month transition period. The National Energy Administration reported total installed power capacity reached 41.03 billion kW by end-August, up 11.1% YoY, with solar up 16.3% and wind up 19.6%. Leading sectors included wind power equipment, coking, textiles, and medical aesthetics, while precious metals, components, and PCB lagged. The article highlighted harmonic reducers for humanoid robots, noting domestic firms like Leaderdrive and Lafford Harmonic are accelerating import substitution. Broker recommendations included Southern Precision (rolling bearings), Fengguang Precision (harmonic reducers), Shuanghuan Transmission (gears and reducers), and Yunnan Yunjie (bulk material conveyors).
China A-shares fall at midday; PBOC nets withdrawal; harmonic reducer stocks highlighted
On September 24, China's A-share markets declined at midday, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index down 1.74% to 13399.34, and the ChiNext Index losing 1.84% to 3317.33. The PBOC conducted a 515 billion yuan 7-day reverse repo at 1.40% via fixed-rate quantity bidding, fully meeting primary dealer demand, but with 1620 billion yuan in reverse repos maturing, the net withdrawal was 1105 billion yuan. The State Administration for Market Regulation issued new certification agency rules to tighten entry standards, with a 6-month transition for existing agencies. The National Energy Administration reported total installed power capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textiles, and medical aesthetics led gains, while precious metals and PCB components underperformed. Analyst reports highlighted harmonic reducer stocks: Galaxy Securities noted Southern Precision's strong needle roller bearing technology; Shenwan Hongyuan said Fengguang Precision has achieved mass production of small micro harmonic reducers with long-term contracts; China Merchants Securities cited Shuanghuan Transmission's stable gear business and overseas growth; Guoyuan Securities expects Yunji Group's revenue and profitability to improve on capacity expansion and overseas orders.
Read sourceChina Stocks Fall at Midday; PBOC Drains Liquidity, Regulator Issues Certification Rules
On September 24, China's A-share markets declined, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34, and the ChiNext Index losing 1.84% to 3,317.33 at midday. The People's Bank of China conducted a 51.5 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 162 billion yuan in reverse repos maturing, it resulted in a net liquidity drain of 110.5 billion yuan. The State Administration for Market Regulation released new certification body qualification rules, raising standards for personnel and testing capabilities with a 6-month transition period. The National Energy Administration reported total installed power generation capacity reached 4.103 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textiles, and medical aesthetics led gains, while precious metals and PCB sectors underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Machinery & Equipment respectively, citing technological advantages, order growth, and overseas expansion.
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China stocks fall at midday; PBOC drains liquidity; wind power, harmonic reducer stocks gain
Chinese A-share markets declined on September 24, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index dropping 1.74% to 13399.34, and the ChiNext Index losing 1.84% to 3317.33 at the morning close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo operation at a 1.40% rate, resulting in a net withdrawal of 1105 billion yuan from the financial system as 1620 billion yuan in reverse repos matured. The State Administration for Market Regulation released new certification body qualification rules to improve standards and streamline approvals, with a 6-month transition period for existing bodies. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan,招商证券, and 国元证券 provided positive outlooks on stocks including Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Machinery, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind, solar capacity grows
Chinese A-share markets declined on September 24, with the Shanghai Composite Index falling 0.93% to 3,900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34, and the ChiNext Index losing 1.84% to 3,317.33 at the morning close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo at 1.40%, but with 1,620 billion yuan in reverse repos maturing, the net liquidity withdrawal was 1,105 billion yuan. The State Administration for Market Regulation released new certification body qualification rules, including a 6-month transition period. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity rising 16.3% and wind capacity up 19.6%. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan,招商证券, and 国元证券 provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Machinery, respectively, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind power, textile sectors gain
On September 24, China's A-share markets declined in morning trading, with the Shanghai Composite Index falling 0.93% to 3,900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34 points, and the ChiNext Index losing 1.84% to 3,317.33 points. The STAR 50 Index fell 1.53% and the Beijing Stock Exchange 50 Index dropped 1%. The People's Bank of China conducted a 51.5 billion yuan 7-day reverse repo operation at a 1.40% rate, fully meeting demand, but with 162 billion yuan in reverse repos maturing, the net liquidity drain was 110.5 billion yuan. The State Administration for Market Regulation released new certification body qualification rules with a 6-month transition period. The National Energy Administration reported total installed power generation capacity reached 4.103 billion kW by end-August, up 11.1% year-on-year, with solar up 16.3% and wind up 19.6%. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan,招商证券, and 国元证券 provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Machinery & Equipment respectively, citing technology advantages, capacity expansion, and overseas orders.
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind power, textile sectors gain
On September 24, China's A-share markets declined, with the Shanghai Composite Index falling 0.93% to 3,900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34 points, and the ChiNext Index losing 1.84% to 3,317.33 points at the morning close. The People's Bank of China conducted a 51.5 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 162 billion yuan in reverse repos maturing, the net liquidity withdrawal was 110.5 billion yuan. The State Administration for Market Regulation released new certification body qualification rules to improve standards and streamline approvals, with a 6-month transition period for existing bodies. The National Energy Administration reported that China's total installed power generation capacity reached 4.103 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity up 16.3% and wind capacity up 19.6%. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Yuntou Machinery, respectively, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind, solar capacity grows
On September 24, China's A-share markets declined, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index dropping 1.74% to 13399.34, and the ChiNext Index losing 1.84% to 3317.33 at the morning close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo operation at a 1.40% rate, resulting in a net withdrawal of 1105 billion yuan from the financial system as 1620 billion yuan in reverse repos matured. The State Administration for Market Regulation released the 'Certification Body Qualification Licensing Review Rules' to streamline standards and approval processes, with a 6-month transition period for existing certification bodies. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity at 12.99 billion kW (+16.3%) and wind capacity at 6.93 billion kW (+19.6%). Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Machinery & Equipment, respectively, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina Stocks Fall at Midday; Shanghai Index Down 0.93% on Liquidity Tightening
On September 24, A-share indices declined in morning trading, with the Shanghai Composite falling 0.93% to 3,900 points, the Shenzhen Component dropping 1.74% to 13,399.34, and the ChiNext Index losing 1.84% to 3,317.33. The central bank conducted a 51.5 billion yuan 7-day reverse repo at 1.40%, but with 162 billion yuan in reverse repos maturing, the net liquidity withdrawal was 110.5 billion yuan. The market also digested the State Administration for Market Regulation's new certification agency licensing rules, which tighten personnel and testing capability requirements with a six-month transition period. The National Energy Administration reported total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textiles, and medical aesthetics led gains, while precious metals, components, and PCB stocks underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities issued positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Yuntou Machinery, citing technology advantages, order momentum, and overseas expansion.
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind, solar capacity grows
Chinese A-share indices declined on September 24, with the Shanghai Composite falling 0.93% to 3900 points, the Shenzhen Component dropping 1.74% to 13399.34, and the ChiNext Index losing 1.84% to 3317.33 at the morning close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo at 1.40%, but with 1620 billion yuan in reverse repos maturing, the net liquidity drain was 1105 billion yuan. The State Administration for Market Regulation released new certification body licensing rules to tighten entry standards, with a 6-month transition period for existing firms. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity rising 16.3% and wind capacity up 19.6%. Sector-wise, wind power equipment, coke, textiles, and medical aesthetics led gains, while precious metals, components, and PCB stocks lagged. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities issued positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunji Group respectively, citing technology advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; PBOC nets 1.1 trillion yuan withdrawal; wind power, textile sectors gain
On September 24, China's A-share markets declined in morning trading, with the Shanghai Composite Index falling 0.93% to 3,900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34 points, and the ChiNext Index losing 1.84% to 3,317.33 points. The People's Bank of China conducted a 51.5 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 162 billion yuan in reverse repos maturing, the net liquidity withdrawal was 110.5 billion yuan. The State Administration for Market Regulation issued new certification body licensing rules to improve standards and oversight, with a 6-month transition period. The National Energy Administration reported that China's total installed power generation capacity reached 4.103 billion kW by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analyst reports highlighted Southern Precision (roller bearings), Fengguang Precision (harmonic reducers), Shuanghuan Transmission (gears), and Yunnan Machinery (bulk material conveyors) as key stock picks.
Read sourceChina A-Share Indices Fall in Morning Trade; Shanghai Composite Down 0.93%
On September 24, China's A-share markets experienced a broad decline, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index dropping 1.74% to 13399.34 points, and the ChiNext Index losing 1.84% to 3317.33 points at the morning close. The STAR 50 Index fell 1.53% and the Beijing Stock Exchange 50 Index dropped 1%. In monetary operations, the People's Bank of China conducted a 7-day reverse repo of 51.5 billion yuan at a 1.40% rate, but with 162 billion yuan in reverse repos maturing, the net liquidity withdrawal was 110.5 billion yuan. On the regulatory front, the State Administration for Market Regulation issued new certification body qualification review rules to tighten industry standards, with a 6-month transition period for existing firms. The National Energy Administration reported that China's total installed power generation capacity reached 4.103 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities provided positive outlooks on stocks including Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Yuntou Machinery, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind, solar capacity grows
Chinese A-share markets declined on September 24, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index dropping 1.74% to 13399.34, and the ChiNext Index losing 1.84% to 3317.33 at the morning close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo operation at a 1.40% rate, resulting in a net withdrawal of 1105 billion yuan from the financial system as 1620 billion yuan in reverse repos matured. The State Administration for Market Regulation released new certification body qualification review rules to improve standards and streamline approval processes, with a 6-month transition period for existing certified bodies. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity growing 16.3% and wind capacity 19.6%. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analyst recommendations highlighted Southern Precision (rolling bearings), Fengguang Precision (harmonic reducers), Shuanghuan Transmission (gears), and Yunnan Machine & Transport (bulk material handling equipment).
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind, solar capacity grows
On September 24, China's A-share markets declined, with the Shanghai Composite Index falling 0.93% to 3,900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34 points, and the ChiNext Index losing 1.84% to 3,317.33 points at the morning close. The People's Bank of China conducted a 51.5 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 162 billion yuan in reverse repos maturing, the net liquidity withdrawal was 110.5 billion yuan. The State Administration for Market Regulation released new certification body qualification rules, raising standards for personnel and testing capabilities with a 6-month transition period. The National Energy Administration reported that China's total installed power generation capacity reached 4.103 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity growing 16.3% and wind capacity 19.6%. Sector-wise, wind power equipment, coke, textiles, and medical aesthetics led gains, while precious metals and PCB components underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan,招商证券, and 国元证券 provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Machinery, respectively, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; PBOC nets 1.1 trillion yuan withdrawal; wind power, textile sectors gain
Chinese A-share markets declined on September 24, with the Shanghai Composite Index falling 0.93% to 3,900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34, and the ChiNext Index losing 1.84% to 3,317.33 at midday close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 1,620 billion yuan in reverse repos maturing, the net liquidity withdrawal was 1,105 billion yuan. The State Administration for Market Regulation released new certification body qualification rules, with a 6-month transition period. The National Energy Administration reported China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity up 16.3% and wind capacity up 19.6%. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analyst recommendations included: Galaxy Securities on Southern Precision (roller bearings), Shenwan Hongyuan on Fengguang Precision (harmonic reducers), China Merchants Securities on Shuanghuan Transmission (gears), and Guoyuan Securities on Yunnan Machinery (bulk material conveyors).
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind, solar capacity grows
On September 24, China's A-share markets declined, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index dropping 1.74% to 13399.34 points, and the ChiNext Index losing 1.84% to 3317.33 points at the morning close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 1620 billion yuan in reverse repos maturing, the net liquidity withdrawal was 1105 billion yuan. The State Administration for Market Regulation released new certification body qualification review rules to improve standards and streamline approvals, with a 6-month transition period for existing bodies. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity rising 16.3% and wind capacity up 19.6%. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Machinery & Equipment respectively, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; PBOC drains liquidity; regulators issue certification rules
Chinese A-share indices declined on September 24, with the Shanghai Composite falling 0.93% to 3900 points, the Shenzhen Component dropping 1.74% to 13399.34, and the ChiNext Index losing 1.84% to 3317.33 at the morning close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo at a 1.40% rate, but with 1620 billion yuan in reverse repos maturing, the net liquidity withdrawal was 1105 billion yuan. The State Administration for Market Regulation released the 'Certification Body Qualification Licensing Review Rules' to optimize standards and approval processes, with a 6-month transition period for existing bodies. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB underperformed. Analyst reports highlighted Southern Precision's bearing technology, Fengguang Precision's harmonic reducer production, Shuanghuan Transmission's diversified revenue growth, and Yunnan Machinery's export-driven expansion.
Read sourceChina Stocks Fall at Midday; Shanghai Index Down 0.93% on Liquidity Tightening
On September 24, China's A-share markets declined, with the Shanghai Composite Index falling 0.93% to 3,900 points, the Shenzhen Component Index dropping 1.74% to 13,399.34 points, and the ChiNext Index losing 1.84% to 3,317.33 points at midday. The central bank conducted a 51.5 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 162 billion yuan in reverse repos maturing, the net liquidity withdrawal was 110.5 billion yuan. In regulatory news, the State Administration for Market Regulation issued the 'Certification Body Qualification Licensing Review General Rules' to streamline standards and strengthen oversight, with a six-month transition period for existing bodies. The National Energy Administration reported that China's total installed power generation capacity reached 4.103 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB sectors underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities provided positive outlooks on stocks including Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Yuntou, citing technological advantages, capacity expansion, and overseas growth.
Read sourceChina stocks fall at midday; Shanghai Composite down 0.93% as liquidity tightens
Chinese A-share markets declined on September 24, with the Shanghai Composite falling 0.93% to 3,900 points, the Shenzhen Component dropping 1.74% to 13,399.34, and the ChiNext Index losing 1.84% to 3,317.33 at midday. The central bank conducted a 515 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 1,620 billion yuan in reverse repos maturing, the net liquidity withdrawal was 1,105 billion yuan. On the policy front, the State Administration for Market Regulation issued new certification body licensing rules to tighten entry standards, with a six-month transition period for existing firms. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar and wind capacity growing 16.3% and 19.6% respectively. Sector-wise, wind power equipment, coke, textile manufacturing, and medical aesthetics led gains, while precious metals, components, and PCB stocks underperformed. Analyst notes highlighted Southern Precision (rolling bearings), Fengguang Precision (harmonic reducers), Shuanghuan Transmission (gears), and Yunnan Machinery (bulk material conveyors) as investment ideas, with commentary from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities.
Read sourceChina stocks fall at midday; PBOC drains liquidity; wind, solar capacity grows
On September 24, China's A-share markets declined, with the Shanghai Composite Index falling 0.93% to 3900 points, the Shenzhen Component Index dropping 1.74% to 13399.34, and the ChiNext Index losing 1.84% to 3317.33 at the midday close. The People's Bank of China conducted a 515 billion yuan 7-day reverse repo operation at a 1.40% rate, but with 1620 billion yuan in reverse repos maturing, the net liquidity withdrawal was 1105 billion yuan. The State Administration for Market Regulation released new certification body qualification rules, raising standards for personnel and testing capabilities with a 6-month transition period. The National Energy Administration reported that China's total installed power generation capacity reached 41.03 billion kilowatts by end-August, up 11.1% year-on-year, with solar capacity growing 16.3% and wind capacity 19.6%. Sector-wise, wind power equipment, coke, textiles, and medical aesthetics led gains, while precious metals and PCB components underperformed. Analysts from Galaxy Securities, Shenwan Hongyuan, China Merchants Securities, and Guoyuan Securities provided positive outlooks on Southern Precision, Fengguang Precision, Shuanghuan Transmission, and Yunnan Yuntou, respectively, citing technological advantages, capacity expansion, and overseas growth.
Read source