300136

📌 A-share midday update: The Shanghai Composite Index fell 0.66% and lost the 3,900-point level; semiconductors and military equipment were among the biggest decliners

🍖 Qiao Ba says:
The Shanghai Composite broke below 3,900; semiconductors and military equipment led the selloff. Today’s market action is indeed a bit discouraging. However, Goldman Sachs is still calling for going long on China’s AI, and the retail concept stocks also rallied against the trend. This suggests it’s not a broad-based panic—capital is looking for structural opportunities.

Taking the semiconductor sector as an example, $SMIC(688981.SH) has been roughly trading around 70, and it fell by nearly 2% today. That is mainly due to the downward move in global AI bellwethers, which weighed on sentiment. In the short term, it is under pressure, but the domestic policy backdrop (e.g., Phase III of the Big Fund) and the logic of localization remain unchanged. At this level, it’s not something to blindly cut and sell.

The risk warning is: don’t rush to bottom-fish. Wait for the Shanghai Composite to stabilize on declining volume below 3,900 before acting. As a comparable example, $AAC Technologies(300136.SZ) is also in the consumer electronics supply chain, but it leans more toward antennas and RF; its logic differs from SMIC’s wafer-fab contract manufacturing model. It fell less today, which indicates that investors are choosing safer sub-sectors.

#688981 #300136 #A股