A-shares, a major rebound! The "limit-up wave" is here!

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【Overview】The SSE Composite Index pushed higher and turned positive, returning to the 3,900-point level; innovative drugs continued to surge sharply; and the aluminum sector sparked a “limit-up frenzy”! Agriculture, forestry, animal husbandry and fishery; precious metals; and communication equipment all rallied strongly

China Fund News reporter Zhang Zhou

Hello everyone! A new week is starting again. Let’s take a look together at the latest market trends and news in A-shares!

On the morning of March 30, the market probed downward and rebounded; the SSE Composite Index rose and turned positive again, reclaiming the 3,900-point level, after having fallen by more than 1% at one point.

By the noon close, the SSE Composite Index was up 0.23%, the Shenzhen Component Index was down 0.12%, the ChiNext Index was down 0.5%, and the STAR Market Composite Index was down 0.11%.

Across the entire market, 2,587 stocks rose, 58 stocks hit the daily limit-up, and 2,740 stocks fell.

On the trading screen, the innovative drugs concept sector strengthened again; sectors such as agriculture, forestry, animal husbandry and fishery, and precious metals led the gains, while aluminum-sector stocks sparked a “limit-up frenzy.” Sectors including power, utilities, and photovoltaic equipment were among the top decliners.

In Hong Kong stocks, as of the time of this release, the Hang Seng Index was down 1.01%, the Hang Seng Tech Index was down 1.77%, and Hang Seng Healthtech was up 0.39% against the trend. In individual stocks, Kangfang Biotech, Nuocheng Jianhua, Sinopharm YuanDa Medical, and Genset Pharmaceutical all rose; XPeng Motors fell 4.71%, while Kingsoft Software, NIO, Haier Smart Home, and Bilibili each fell by more than 3%.

Let’s look at the details—

Aluminum sector surges quickly

In the morning, A-share aluminum stocks rose, leading the market.

In individual stocks, Liyuan Co., Ltd., Changlv Co., Ltd., Minfa Aluminum Industry, and Yiqiu Resources all hit the daily limit-up; Yunlv Co., Ltd., Yinbang Co., Ltd., Dingsheng New Materials, and Nanshan Aluminum Industry all climbed higher.

On the news front, Iran attacked two aluminum production facilities in the Middle East, worsening an already tight global supply situation. Output from that region accounts for an important share of total global production. During Monday’s early trading on the London Metal Exchange (LME), the aluminum price surged as much as 6% to 3,492 dollars per ton, and the share prices of several Australian aluminum companies rose in sync.

The largest aluminum producer in the Middle East, UAE-based Global Aluminum Company, said last Saturday that its factory in Abu Dhabi suffered “severe damage.” Bahrain Aluminum Company said it is assessing damage to its factory. Because the region’s smelters cannot ship finished aluminum products out or import raw materials, supply has been severely constrained. This attack may further worsen the situation: even if navigation through the Strait of Hormuz resumes later, some capacity may be interrupted for the long term, extending the supply shortfall.

Innovative drug sector stays active again and again

In the morning, the innovative drugs concept sector in A-shares remained strongly bullish, and shares tied to medical supplies exports rose as well.

In individual stocks, Menovo Pharmaceutical (rights issue) delivered a streak of 7 days with 6 limit-ups, while Asia-Pacific Pharmaceuticals, Dongcheng Pharmaceutical, Lianhuan Pharmaceutical, Jinzhou Pharmaceutical, and Shuanglu Pharmaceutical all recorded 10cm limit-up gains; Innovent Biologics?; and Amoy? rose more than 6%, while Medicis?; Zhejiang Medicine?; and Plo Pharmaceutical? all climbed higher.

On the news front, Eli Lilly and BeiGene have reached an agreement worth $2.75 billion. Under the plan, the latter will bring drugs developed using artificial intelligence to global markets. According to the announcement, this agreement will give BeiGene an upfront payment of $115 million, and the remaining amounts will be paid based on regulatory and commercial milestones, as well as future sales—through royalties tied to distribution rights.

Agriculture, forestry, animal husbandry and fishery sector lifts against the trend

In the morning, A-share agriculture, forestry, animal husbandry and fishery stocks lifted against the trend.

In individual stocks, Pingtan Development, Xinnong Development, Beidahuang, and Jinjian Rice Industry all recorded 10cm limit-up gains; while Suqian Nongfa, Qiule Seed Industry, and Xinai Shares surged sharply as well.

On the news front, Goldman Sachs said that for the agriculture market, the greater risk is more likely to come from a decline in crop yields rather than just higher input costs. A shortage of fertilizers could lead to lower yields caused by delayed or improper fertilization. Some farmers may switch to crops with lower fertilizer intensity, further tightening grain supply.

		Sina Statement: This news is reposted from a cooperative media partner. Sina.com publishes this article for the purpose of transmitting more information, and does not imply agreement with its viewpoints or confirmation of its descriptions. The article’s content is for reference only and does not constitute investment advice. Investors act at their own risk.

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