A-share market close: Shanghai Composite Index fluctuates and adjusts with slight decline, coal, wind power and other energy sectors lead gains

(Source: Sci-Tech 100 ETF Fund)

The three major A-share indices all declined today. By the close, the Shanghai Composite Index fell 0.1%, the Shenzhen Component Index dropped 0.63%, the ChiNext Index decreased 0.96%, and the Beijing Stock Exchange 50 Index declined 1.12%. The combined trading volume of the Shanghai, Shenzhen, and Beijing markets was 24,606 billion yuan, down 677 billion yuan from the previous day. Over 3,800 stocks across the three markets declined.

In terms of sectors and themes, the leading gainers included coal mining and processing, wind power equipment, chemical fibers, electricity, coal chemical industry, steel, banking, and pork. The biggest declines were seen in military equipment, cultivated diamonds, satellite navigation, dyes, commercial aerospace, and high-speed copper cable concepts.

Market overview: The ongoing crisis in the Strait of Hormuz continues to intensify. Coal and energy chemical sectors strengthened early in the session and maintained gains in the afternoon. China Power Energy (600726) hit three consecutive limit-ups, while Zhengzhou Coal & Electricity (600121), Yankuang Energy (600188), and Shaanxi Black Cat (601015) all hit the daily limit. Aside from traditional energy sectors, the wind power sector also surged in the afternoon, with Daikin Heavy Industries (002487), Shuangyi Technology (300690), and Deli Jia (603092) all hitting the limit. Market expectations suggest that energy market turbulence could drive wind power development across countries. Additionally, chemical fiber, gas, and banking sectors experienced some intraday movements. Conversely, the commercial aerospace sector mostly retreated, with Zhonghe Sizhui (002383), Far East Holdings, and Aerospace Development (000547) all falling. The small metals sector also pulled back, with Zhangyuan Tungsten (002378), Western Materials (002149), and Xianglu Tungsten (002842) among the biggest decliners.

Top limit-up ladder:

• 4 consecutive limit-ups: Zhongnan Culture (002445).

• 3 consecutive limit-ups: Greenland Power (000537), China Power Energy.

• 2 consecutive limit-ups: Chint Power (002150), Jinniu Chemical (600722), Energy Saving Wind Power (601016), Green Power (601330).

Main capital inflow sectors:

• No.1 【Coal Concept】 with net main capital inflow of 3.93 billion yuan, 4 stocks hit the limit-up, 62 stocks rose.

• No.2 【Coal Chemical Industry Concept】 with net inflow of 2.184 billion yuan, 6 stocks hit the limit-up, 69 stocks rose.

• No.3 【Cross-border Payment (CIPS)】 with net inflow of 1.762 billion yuan, 40 stocks rose.

Hotspot overview:

What’s hot in today’s market:

【Coal Mining and Processing】

Related stocks: Zhengzhou Coal & Electricity, Yankuang Energy, China Coal Energy (601898)

As military conflicts in the Middle East suddenly escalate, the global energy supply chain faces severe challenges. The price of thermal coal has surged to its highest level in over a year. On Monday, the benchmark Newcastle coal futures in Asia jumped about 9.3%, reaching $150 per ton, the highest since November 2024; simultaneously, European markets reacted strongly, with Rotterdam coal prices rising about 13% to $119.50 per ton on March 2, hitting a 52-week high.

【Carbon Fiber】

Related stocks: China National Carbon Fiber, Jilin Carbon Valley, Jilin Chemical Fiber (000420)

According to Gansu release, China’s independently developed T1200-grade ultra-high-strength carbon fiber was launched globally today, marking a major breakthrough in the country’s ultra-high-strength carbon fiber production. China is now the first country to achieve mass production of this grade at the hundred-ton level. The T1200-grade ultra-high-strength carbon fiber, independently developed by China National Building Material Group, has a capacity for hundred-ton production, and is an industrial product, not just a laboratory sample, filling a global gap. This material boasts excellent performance, with a diameter less than one-tenth of a hair strand, tensile strength ten times that of ordinary steel, and a density only a quarter of steel, making it lightweight and tough. Carbon fiber, known as “black gold” and the “king of new materials,” is highly regarded for its high strength, high temperature resistance, and corrosion resistance. Thanks to its outstanding properties, T1200-grade carbon fiber can be widely used in aerospace, low-altitude economy, humanoid robots, and other strategic emerging industries.

【Chemical Raw Materials】

Related stocks: Jinniu Chemical, Zhongtai Chemical (002092), Xinjiang Tianye (600075)

Everbright Securities pointed out that under the ongoing US-Iran conflict, chemical production and exports from Iran and other Middle Eastern countries are likely to be affected, leading to a significant tightening of chemical supply and rising prices. Additionally, with oil and gas prices soaring, European chemical production capacity may face increased costs, potentially forcing reductions in output or even partial capacity exits. Driven by cost advantages, industry substitution, and sector restructuring, the performance elasticity and investment value of the coal chemical industry continue to improve.