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A-share morning session sees over 4,800 stocks fall; Shanghai Stock Exchange to launch two new indices
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Chinese A-share markets experienced a broad sell-off on Monday, with the Shanghai Composite Index falling 1.74%, the Shenzhen Component Index dropping 3.37%, and the ChiNext Index sliding 4.32% by midday. Over 4,800 stocks declined. Sector performance was mixed, with auto manufacturing, small home appliances, and pork stocks gaining, while CPO, components, copper cable, fiber optics, and precious metals fell. The Shanghai Stock Exchange and China Securities Index Company announced they will launch the Shanghai Stock Exchange Innovative Drug Sci-Tech Leading Index and the Shanghai Stock Exchange STAR Software Service Index on September 29 to provide more investment benchmarks. Internationally, Japan and South Korean stock markets opened mixed, with South Korea's KOSPI later falling over 2%. US and European equity index futures also declined. According to CME's FedWatch tool, the probability of the Fed holding rates at 3.75%-4.00% in October is 35.2%, while a 25-basis-point hike has a 64.8% probability. Gold and silver prices plunged, with spot gold down 1.61% to $4,216.31/oz and silver down 2.85% to $62.42/oz. Oil prices rose, with Brent crude up 1.36% to $98.77/barrel. US President Trump said he expects to continue negotiations with Iran, after rejecting Iran's proposal to end the war.
Source report
Source: China Business News
A-Share Market: Broad Decline at Midday
China's A-share三大 indices opened lower on Monday. As of midday break:
- Shanghai Composite Index: down 1.74%
- Shenzhen Component Index: down 3.37%
- ChiNext Index: down 4.32%
- Beijing Stock Exchange 50 Index: down 2.17%
- STAR 50 Index: down 4.00%
More than 4,800 stocks across the market declined.
Sector Performance
Gainers:
- Auto manufacturing
- Small home appliances
- Pork-related stocks
Losers:
- CPO (Chip-on-board)
- Electronic components
- High-speed copper cable concepts
- Optical fiber concepts
- Precious metals
New Indices to Launch
The Shanghai Stock Exchange and China Securities Index Co., Ltd. will officially launch two new indices on September 29:
- SSE Innovative Drug Science and Technology Leading Index
- Selects 40 securities from the STAR Board and Shanghai main board
- Focuses on innovative drug companies with high R&D capability and strong growth
- Gives higher weight to STAR Board samples
- SSE STAR Board Software Services Index
- Selects 40 securities from the STAR Board
- Covers software development and software services companies
Asia-Pacific Markets
On September 28, Japan and South Korea markets opened mixed:
- Nikkei 225: Opened up 0.21% at 66,505.94 points
- KOSPI: Opened down 0.33% at 7,057.86 points
- Later fell over 2%, breaching the 7,000-point mark
- SK Hynix dropped over 4%
U.S. & European Futures
On the morning of September 28 (Beijing time), U.S. and European major index futures collectively declined:
U.S. Futures:
- Dow Jones Futures: -0.30%
- S&P 500 Futures: -0.29%
- Nasdaq 100 Futures: -0.33%
European Futures:
- DAX 30 Futures: -0.30%
- CAC 40 Futures: -0.25%
- FTSE 100 Futures: -0.23%
Fed Rate Expectations (CME FedWatch)
October Meeting:
- Probability of holding rates at 3.75%–4.00%: 35.2%
- Probability of a 25 bps hike: 64.8%
December Meeting:
- Probability of holding rates at 3.75%–4.00%: 7.6%
- Probability of a 25 bps cumulative hike: 41.6%
- Probability of a 50 bps cumulative hike: 50.9%
Precious Metals & Oil
Gold & Silver:
- Spot Gold: down 1.61% to $4,216.31/oz
- Spot Silver: down 2.85% to $62.42/oz
Oil:
- Brent Crude: up 1.36% to $98.77/barrel
- WTI Crude: up 1.58% to $93.87/barrel
Geopolitical Note
According to CCTV News, on September 27 (U.S. local time), U.S. President Donald Trump stated in an interview: "We expect to continue negotiations with Iran." This came one day after Trump rejected Iran's proposed plan to end the war.
Disclaimer: This article does not constitute investment advice.
Sources: China Business News, Securities China, Cailianshe, China-Singapore Jingwei, National Business Daily, Yicai, and others.
Source
新浪财经Eastern
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**China A-shares plunge with over 4,800 stocks down; gold and silver dive sharply**