The Shanghai Composite Index falls below 3,900 points, while high-speed rail and CRO concepts rise against the trend.

China Economic Network (Xinzhongjingwei) March 31 report. On the last trading day of March, the Shanghai Composite Index fell below the 3,900-point level.

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By the close, the Shanghai Composite Index fell 0.8%, the Shenzhen Component Index fell 1.81%, and the ChiNext Index fell 2.7%. In March, the Shanghai Composite Index fell cumulatively by 6.51%, the Shenzhen Component Index fell cumulatively by 7.02%, and the ChiNext Index fell cumulatively by 3.79%.

On the day’s trading, the storage chip and CPO-related computing hardware industry chain fell. Shares linked to photovoltaics, lithium batteries, semiconductors, and AI applications pulled back notably. Chemical, power, coal, oil & gas, and agriculture sectors led the declines. High-speed rail and CRO concept stocks rose against the trend, while large consumer and big finance strengthened.

The rail transit equipment sector surged across the board. Jinye Eagle Heavy Industry hit the 20CM daily limit up. Jiao Da Tiewa and Tongye Technology rose more than 10%, while China Railway Engineering Equipment and Jinxi Axle both hit the daily limit and closed at capped prices.

The liquor sector opened higher and then weakened. Huangtai Liquor Industry rose more than 3%, and Kweichow Moutai rose more than 2%.

The banking sector moved higher. Bank of China and Agricultural Bank of China rose more than 3%.

On the downside, the coal sector weakened. Shanxi Heimao and Zhengzhou Coal Power fell by more than 9%.

Agricultural chemical products weakened across the board. Chitianhua fell by more than 8%, while Hunan Heli and Kingenta fell by more than 6%.

Overall, the total market trading value was 19,975 billion yuan, up by 69.9 billion yuan from the previous day. More than 4,300 stocks fell.

An analysis in a research report from Dongxing Securities said that, overall, as geopolitical conflicts continue, concerns in the market about tighter liquidity have started to gradually shift toward concerns about the economy. The A-share rebound yesterday was more resilient than other countries’ equity markets, but trading value was insufficient. More of it is still internal rotation, and the market’s predicament has not changed. For the broader market, the rebound target is near the gap above; support is around the 3,800-point area. It is basically still moving in a range-bound, choppy pattern. With the Qingming Festival holiday approaching, maintain moderate caution. (China Economic Network APP)

(The views expressed in this article are for reference only and do not constitute investment advice. Investing involves risk, and you should exercise caution when entering the market.)