A-shares open lower, with the coal sector continuing its strong performance

GateUser-bd883c58 · 2026-03-17T08:20:16+00:00

The three major A-share indices opened lower, with the Shanghai Composite Index down 0.28%. Tech stocks fell across the board, with CPO and photovoltaic concept stocks declining, while coal and wind power sectors showed stronger performance. The market may shift toward a value style, and in the short term, attention should be paid to macroeconomic conditions and policy developments.

GateUser-bd883c58

2026-03-17 08:20:16

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China Securities Journal, March 13 — On Friday, the three major A-share indices all opened lower. The Shanghai Composite Index opened down 0.28%, the Shenzhen Component Index down 0.51%, and the ChiNext Index down 0.63%.

Wind screenshot

In the market, stocks related to CPO, semiconductor equipment, high-speed copper connections, photovoltaics, superhard materials, cybersecurity, nuclear fusion, gold, and AI computing power concepts all declined, while oil & gas, wind power, and coal sectors gained strength.

Green energy concepts repeatedly showed activity, with Green Power Electric hitting four consecutive daily limit-ups, and China Power Investment, China State Construction Engineering, Datang Power, Energy-saving Wind Power, and Jiangsu New Energy all rising.

Coal sector opened high, with Zhengzhou Coal & Electricity hitting the daily limit, and China Power Investment, Haohua Energy, Orchid Scientific, New Dazhou A, and Shaanxi Black Cat also rising.

The Sci-Tech Innovation Board 50 Index fell by 1.06%, Shengke Communication down 3.40%, Haiguang Information down 2.04%, Sany Heavy Energy down 1.87%, and Western Superconducting down 1.86%.

CMB Research report suggests that if crude oil prices remain high, the structure of A-shares will face further adjustments. In this scenario, the biggest change will be pressure on the technology sector, with the market shifting toward a value style. For midstream manufacturing and downstream consumption, rising raw material prices will squeeze profit margins for manufacturers, while cost transmission to end-users will suppress downstream demand, putting pressure on related industries’ fundamentals.

Zhongyuan Securities’ research report predicts that the Shanghai Composite Index is likely to remain slightly volatile and consolidating. Investors are advised to closely monitor macroeconomic data, overseas liquidity changes, and policy trends. In the short term, focus on investment opportunities in coal, wind power equipment, chemical raw materials, and electricity sectors. (China Securities Journal APP)

(The views expressed are for reference only and do not constitute investment advice. Investing involves risks; please proceed with caution.)

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