What's going on? A-shares suddenly weakened in the afternoon, while the wind power sector once again bucked the trend and led gains.

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Daily Economic News Reporter | Xiao Ruidong    Daily Economic News Editor | Zhao Yun

March 13th, the market experienced a day of oscillation and adjustment, with a rapid decline at the close. By the end of the session, the Shanghai Composite Index fell 0.81%, the Shenzhen Component Index dropped 0.65%, and the ChiNext Index declined 0.22%.

Looking at the sectors, the chemical industry continued its strength, the wind power sector was repeatedly active, and the controlled nuclear fusion concept quickly surged. On the downside, the computing power leasing concept collectively retreated, and the non-ferrous metals and tungsten concepts continued to decline.

Over 3,800 stocks declined across the market. The combined trading volume of the Shanghai and Shenzhen markets was 2.4 trillion yuan, shrinking by 41.6 billion compared to the previous trading day.

Yesterday’s broad decline in A-shares saw a seemingly mild recovery today, but in the afternoon, the market continued to weaken, almost in a one-sided downward trend.

Why is that?

From a logical perspective, Friday is often a day when funds “bet on weekend developments,” leading investors to choose to exit en masse. This may reflect the current market confidence being fragile, with concerns about external uncertainties (such as new developments in Middle East conflicts), prompting a cautious, hold-cash, wait-and-see approach.

Compared to last Friday’s closing prices, major stock indices this week mainly showed a “bottoming out and rebounding” pattern, with the Shanghai Index’s weekly candlestick forming a doji star; the Shenzhen and ChiNext indices benefited from the strong performance of the new energy sector, with long weekly bullish candles and faster recovery progress.

However, this week, the characteristic of “rising indices without rising individual stocks” was also quite evident, with the All A-share average stock price declining a total of 1.16% for the week, closing with a bullish candlestick.

Regarding the new energy sector, the wind power equipment sector, which surged for two consecutive days, is particularly noteworthy.

Before around 10 a.m., the wind power sector, which had surged in the afternoon yesterday, followed the strength of the battery sector, turning red again and rapidly rising, with further gains in the afternoon.

Two days of volume explosion on the surface appear to be driven by repeated “reversals” by funds, but there is also solid logical support, which can be referenced from some institutional views mentioned in yesterday’s report.

From the news perspective, on one hand, the tense Middle East situation continues to heighten Europe’s energy security concerns. The UK announced that starting April 1, it will eliminate 33 import tariffs on wind power components, reducing tariffs on core parts like blades and cables from 6% and 2% to 0%, aiming to release 22 billion pounds of investment and accelerate offshore wind installations in the North Sea.

On the other hand, the industry itself remains highly prosperous. Data shows that in January-February 2026, 81 wind power projects nationwide completed tendering for complete turbines, with a total scale of about 12.335 GW (excluding framework tenders). Electrical wind power led with a winning scale of 2,558 MW, accounting for 20.74% market share, especially in offshore wind power, with a share as high as 53.39%.

Lithium battery materials also performed well. The U.S. International Trade Commission (ITC) ruled on March 12 that Chinese imports of active anode materials (lithium-ion negative electrodes) do not substantially hinder the U.S. domestic industry, overturning the earlier February 11 decision by the Department of Commerce that confirmed anti-dumping and countervailing duties of 93.5%-102.72% and 66.82%-86%, respectively. These tariffs will no longer be imposed.

Changjiang Securities pointed out that this ruling reverses the negative expectations caused by previous anti-dumping tariffs on domestic negative electrode companies’ competitiveness in the U.S. and their medium- to long-term outlook, with clear valuation repair significance, and the sentiment in the domestic negative electrode materials industry chain has been significantly boosted.

It is evident that the price increase logic driven by geopolitical conflicts is still spreading in the market, but the oil and gas sector, which was the earliest and most directly affected, has yet to regain its upward momentum—even though international oil prices are still relatively good.

Some analysts believe that as the Middle East conflict becomes more “long-term,” its short-term impact on the market will diminish. Some previously overlooked sectors are gradually gaining opportunities to emerge.

Today’s market shows slight movements in these directions.

Real Estate

On the news front, Shenzhen Beike Research Institute released the latest monitoring data, showing that in February this year, the number of second-hand homes listed by its partner stores decreased by 3.3% year-on-year. Chongqing Municipal Housing and Urban-Rural Development Commission reported that the transaction volume of commercial housing increased by 7.27% year-on-year, with a 0.3% rise in transaction prices. The proportion of high-quality “good houses” in transaction area reached 28%.

Industry insiders analyze that as restrictive policies across regions continue to optimize, combined with the mature industrial ecosystem, solid economic foundation, and accelerated transportation infrastructure in the Guangdong-Hong Kong-Macau Greater Bay Area, the talent agglomeration effect of emerging industries will significantly strengthen, providing substantial support for housing demand. It is expected that the national housing market will shift from policy-driven to endogenous growth, entering a stage of “steady volume and improving quality.”

Banking

From a comprehensive institutional perspective, under the backdrop of Middle East conflicts, market risk appetite remains limited, and the recovery of equities has paused. Dividend-yielding sectors may still present investment opportunities. The rotation between traditional and emerging sectors, value and growth, is likely to continue.

Kitchen and Bathroom Appliances

According to media reports, due to potential gas shortages triggered by the Middle East conflict, Indian households are rushing to buy electric stoves, leading to rapid depletion of online and offline inventories.

Indian kitchen appliance manufacturer TTK Prestige stated that if supply disruptions continue, it will switch from sea freight to air freight for parts sourced from China and Southeast Asia, incurring higher costs to ensure supply.

Brain-Computer Interface (slight movement in the afternoon)

Recently, the National Medical Products Administration approved the registration application for Borreli Medical Technology (Shanghai) Co., Ltd.'s implantable brain-computer interface hand motor function replacement system, marking the world’s first launch of a brain-computer interface medical device.

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