October 8, the first day after the National Day holiday: A-shares plunged on heavy volume, with absolutely no shame:
The Shanghai Composite fell 0.79%, the Shenzhen Component dropped 2.07%, and the ChiNext Index plunged 3.15%. The STAR 50 fared even worse, tumbling 4.82%. More than 3,700 stocks fell across the market, while turnover actually swelled to 1.69 trillion yuan—nothing stings more than a high-volume sell-off.
The main culprits were the AI hardware stocks that had been riding high before the holiday. CPO and semiconductor stocks crashed across the board: Everbright Photonics and Yuanjie Semiconductor hit the 20% down limit, while “stock king” Changxin Technology fell more than 7% on heavy volume. The trigger was a Morgan Stanley report suggesting that U.S. restrictions on optical modules from China could use the FCC’s “Covered List” mechanism. Note: this isn’t a blanket ban—it’s only a possibility. But those few words were enough to make high-priced positions unravel in an instant. When prices rise, they sell a story; when they fall, they blame sanctions. It’s the same old script for Chinese tech stocks.
Of course, the market wasn’t all gloom. Seven government departments jointly released the battery industry’s “15th Five-Year Plan,” sending battery stocks surging to their daily price limits. Brent crude topped $102, lifting oil and gas and shipping stocks across the board; COSCO Shipping Energy and China Merchants Energy Shipping both hit the limit up. See what’s happening? The money hasn’t left the market—it just switched lanes overnight, moving away from “overseas stories” and toward “our own policies.”
#FollowEachOther# #FollowBackGuaranteed#
The Shanghai Composite fell 0.79%, the Shenzhen Component dropped 2.07%, and the ChiNext Index plunged 3.15%. The STAR 50 fared even worse, tumbling 4.82%. More than 3,700 stocks fell across the market, while turnover actually swelled to 1.69 trillion yuan—nothing stings more than a high-volume sell-off.
The main culprits were the AI hardware stocks that had been riding high before the holiday. CPO and semiconductor stocks crashed across the board: Everbright Photonics and Yuanjie Semiconductor hit the 20% down limit, while “stock king” Changxin Technology fell more than 7% on heavy volume. The trigger was a Morgan Stanley report suggesting that U.S. restrictions on optical modules from China could use the FCC’s “Covered List” mechanism. Note: this isn’t a blanket ban—it’s only a possibility. But those few words were enough to make high-priced positions unravel in an instant. When prices rise, they sell a story; when they fall, they blame sanctions. It’s the same old script for Chinese tech stocks.
Of course, the market wasn’t all gloom. Seven government departments jointly released the battery industry’s “15th Five-Year Plan,” sending battery stocks surging to their daily price limits. Brent crude topped $102, lifting oil and gas and shipping stocks across the board; COSCO Shipping Energy and China Merchants Energy Shipping both hit the limit up. See what’s happening? The money hasn’t left the market—it just switched lanes overnight, moving away from “overseas stories” and toward “our own policies.”
#FollowEachOther# #FollowBackGuaranteed#