Global Stock Markets Hit by "Black Monday"! This A-Share Sector Stands Out!

Today, A-shares experienced a sharp decline along with global markets. The Shanghai Composite Index briefly fell below 3,800 points during the session, hitting a six-month low. The CSI 50 Index plunged over 5%, reaching a one-year low. The Shenzhen Component Index, ChiNext Index, and STAR Market Composite Index also dropped more than 3%. Over 5,200 stocks declined, with moderate volume expansion in trading to 2.45 trillion yuan.

In the market, most sectors declined, with only a few like coal, forestry, oil and gas extraction, and passenger vehicles showing gains. Gold, hotel and catering, tourism, and medical beauty sectors fell sharply.

Wind’s real-time data shows that the Shenwan Electric Power Equipment industry received over 5.2 billion yuan in net main funds inflow. Automotive, basic chemicals, non-ferrous metals, and light industry manufacturing each received more than 3 billion yuan in net inflow. Coal and utilities also saw over 1 billion yuan in net inflow. Electronic stocks experienced net outflows exceeding 9.9 billion yuan, while communications, banking, and biological medicine saw net outflows of over 4.9 billion, 3.7 billion, and 2.4 billion yuan respectively.

Among individual stocks, BYD (002594) today received over 2.9 billion yuan in net main funds. Shunhao Co., Ltd. (002565) and GCL System Integration (002506) also saw net inflows exceeding 2 billion yuan. Wolong Electric Drive (600580), Chint Power, and five other stocks each received over 1 billion yuan in net inflow.

Market focus was on crude oil prices, which fluctuated sharply due to Middle East tensions. Coal, as an alternative energy source to oil, was among the few sectors that defied the trend and rose today. Yun Coal Energy (600792) and Liaoning Energy hit the daily limit, while Shanxi Coking Coal and Zhengzhou Coal & Electricity (600121) also gained significantly.

Near the close, the main contracts for coking coal futures hit the daily limit up, reaching a new high for the year. Coke futures also surged 6.92%, also hitting a yearly high.

According to Cinda Securities, as of last weekend, coal inventories in eight coastal provinces decreased by 52,000 tons week-over-week; daily consumption increased by 238,000 tons, a 12.62% rise; and available days of supply decreased by 0.5 days.

Cinda Securities believes that the current period marks the beginning of a new upward cycle in the coal economy, with fundamental and policy factors resonating. It is an appropriate time to buy coal stocks on dips.

Weak sectors saw poor performance, with underperforming stocks abandoned by the market. Over 100 stocks, including ST (Special Treatment) stocks like ST Saiwei, ST Quanyou, ST Xuefa, and ST Yundong, hit the daily limit down or fell more than 5%.

Previously popular stocks also suffered heavy declines. AI, data centers, robotics (300024), and chip-related stocks experienced widespread limit-downs. In AI, over 20 stocks like Dongjie Intelligent (300486) and BaiAo Intelligent fell more than 10%. Data center stocks such as Meixin Technology and Aohong Electronics also declined over 10%, with nearly 20 stocks hitting the limit.

Looking ahead, Ping An Securities notes that the US-Iran conflict remains the main short-term factor influencing global asset prices. Until the situation clarifies, market volatility may continue, with a defensive style favoring dividends and low valuations. In the medium to long term, Chinese assets are expected to benefit from their safety attributes, especially in sectors supported by policies and with clear growth prospects: first, cyclical sectors benefiting from commodity price increases and strategic security needs (energy, chemicals); second, manufacturing sectors with excess capacity and potential benefits from global replenishment (electric power equipment, machinery).

Western Securities states that the Kondratiev wave downturn accelerated sharply after the US-Iran war, reflected in recent market volatility. However, large fluctuations also present good entry opportunities for the next phase. The more volatile the market, the more important it is to stay calm and focus on trends. It is recommended to increase allocations in PPI-linked sectors like oil and chemicals in the first half of the year, and to watch Chinese manufacturing sectors with potential for overtaking (photovoltaics, wind power, energy storage, engineering machinery). In the second half, focus shifts to CPI-linked sectors like Baijiu, and beneficiaries of the dollar index rebound such as Hang Seng Tech and gold.

(Chief Editor: Wang Zhiqiang HF013)

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