ChiNext and Shenzhen Shares Fall Over 1% as AI Applications Rally Intraday
Chinese equities closed lower on Sept. 1, with the ChiNext Index falling 1.32% and the Shenzhen Component Index down 1.02%, while the STAR 50 Index lost more than 2% amid a broader market pullback. Turnover across the Shanghai and Shenzhen exchanges totaled 2.03 trillion yuan, down 97.6 billion yuan from the previous session, even as more than 3,300 stocks advanced.
Consumer shares outperformed, with multiple retail and food names hitting their daily limit-up levels. Agricultural stocks remained active, led by Wanxiang Doneed's sixth straight limit-up. Short-drama concept stocks extended gains, while AI application shares rose during the session, with Yowant Technology and Jingyeda both closing limit-up. Financial stocks were also relatively strong, with Hualin Securities hitting limit-up and Bank of China, China Construction Bank, Chengdu Bank, and Jiangsu Bank reaching record highs. On the downside, PCB-related stocks retreated, including Forming, Tongguan Copper Foil, and Nanya New Material.
