A-shares Trend | Before the Qingming Festival, the Shanghai Composite Index closed down 1%, losing the 3,900 point level

Ahead of the Inland Qingming Festival holiday period, conditions in the A-share market were mixed. The Shanghai Composite Index closed down 1%, fell for two consecutive days, and lost the 3,900-point level. Trading was subdued, and combined turnover on both exchanges shrank by more than 10% to 1.66 trillion yuan (RMB, same below). Summing up the week, the Shanghai index fell by a total of 33 points or 0.86%.

The Shanghai Composite Index rose by up to 10 points or 0.26%, reaching a high of 3,929 points, but then came under pressure. After that, the decline widened; it fell by as much as 47 points or 1.22%, hitting a low of 3,871 points. It finished trading at 3,880 points for the day, down 39 points or 1%, with turnover of 7138.3 billion yuan.

The Shenzhen Component Index rose by up to 71 points or 0.53%, reaching a high of 13,558 points. Afterwards, selling pressure was heavy, and the broader market turned lower; it plunged by as much as 141 points or 1.05%, hitting a low of 13,345 points. It closed at 13,352 points, down 134 points or 0.99%, with turnover of 9426.36 billion yuan.

The CSI 300 Index closed at 4,440 points, down 38 points or 0.85%; the ChiNext Index closed at 3,149 points, down 23 points or 0.73%.

Most sectors fell broadly: power stocks dropped by more than 3%; oil, media and entertainment, coal, real estate, cement, and biopharmaceutical stocks fell by more than 2%; chemical, auto manufacturing, and steel stocks fell by more than 1%; non-ferrous metals and financial stocks were relatively weaker.