A-share morning session: ChiNext drops 4.32%, auto stocks buck trend
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Major Chinese stock indices fell sharply in morning trading on September 28, with the Shenzhen ChiNext index dropping 4.32% to 3,146.90 points. The Shanghai Composite fell 1.74% to 3,820.82 points, and the Shenzhen Component fell 3.37% to 12,868.28 points. The STAR 50 index lost 4.00%. Total turnover for the morning session reached 1.16 trillion yuan, up 93.4 billion yuan from the previous session. Despite the broad decline, auto stocks such as Jianghuai Automobile and Zhongtai Automobile were active. The article also cited official data from the National Bureau of Statistics showing that industrial profits for large enterprises rose 15.7% year-on-year in the first eight months. Additionally, the Ministry of Transport announced the launch of an initiative integrating AI with transportation, receiving over 100 smart driving project applications covering highways and ports, aiming to expand intelligent connected vehicle testing from closed to open scenarios.
Source report
Beijing, September 28 (Xinhua Finance) — By Hu Chenxi — Major stock indices in Shanghai and Shenzhen opened lower and continued to fall during the morning session on September 28, with the ChiNext Index dropping over 4% by midday.
Total turnover for the morning session reached 1.16 trillion yuan, an increase of 93.4 billion yuan compared to the previous trading day.
Sector Highlights
- Automotive: Jianghuai Automobile, Zhongtong Bus
- Glass Substrate: Jinchun Co., Ledman Optoelectronic
- Real Estate: Shenzhen Properties, Shenzhen Hua Fa A
- Cybersecurity: Willfar Information, Zhongxin Secco, Qiming Information
- Other: Aohong Electronics, Jitai Co.
- Precious Metals: Shandong Gold, Xiaocheng Technology, Hunan Silver
Midday Closing Figures
| Index | Level | Change | Turnover | |-------|-------|--------|----------| | Shanghai Composite | 3,820.82 | -1.74% | ~548.2 billion yuan | | Shenzhen Component | 12,868.28 | -3.37% | ~612.8 billion yuan | | ChiNext Index | 3,146.90 | -4.32% | ~294.5 billion yuan | | STAR 50 | 1,557.07 | -4.00% | ~53.8 billion yuan |
Institutional Views
CITIC Securities highlighted strong growth in the electronics, PCB, and semiconductor sectors. Orders for domestic semiconductor equipment and components are growing rapidly with tight delivery schedules. Amid the ongoing shortage of computing power, companies related to domestic computing power are seeing跨越式 growth in both revenue and orders. The consumer electronics panel sector was also noted.
Key News
Industrial Profits Rise 15.7% in First Eight Months
Data released by the National Bureau of Statistics (NBS) on September 28 showed that from January to August, industrial enterprises above the designated size achieved total profits of 5,271.98 billion yuan, a year-on-year increase of 15.7%. In August alone, industrial profits grew by 4.2% year-on-year.
Yu Weining, Chief Statistician at the NBS Department of Industry, stated that during the first eight months, various regions and departments implemented central government policies to enhance macroeconomic effectiveness and promote high-quality development. New growth drivers, particularly high-tech manufacturing, have accumulated momentum, driving relatively rapid profit growth among industrial enterprises.
Ministry of Transport Advances AI and Intelligent Connected Vehicles
On September 28, Weng Youling, Deputy Director of the Science and Technology Department of the Ministry of Transport, announced at the 2026 World Intelligent Connected Vehicle Conference that the Ministry has officially launched an initiative to integrate artificial intelligence with the automotive and transportation sectors.
According to Weng, industry response has been active, with over 100 applications received for intelligent driving projects covering roads, ports, and vehicles. The initiative is also advancing major innovation projects such as heavy-duty truck intelligent driving, expanding intelligent connected vehicles from closed testing to open scenarios and from single-point demonstrations to large-scale applications. Industry participation continues to grow.
(Source: Xinhua Finance)
Source
东方财富网-市场精华Eastern
Part of this Story
**Chinese Stocks Plunge: ChiNext Drops 4.53%, Auto Sector Rallies on Sales Outlook**