
By Zheng Buchun
A-shares struggled mightily Thursday but share indexes finished mixed. Shanghai Composite closed 0.30% lower at 3251.38 points while Shenzhen Composite 0.08% higher at 1991.8 points. Trading volume on both markets expanded slightly. From a sector view, ferrous metal stocks, gold stocks and medical stocks displayed leadership while others just follow the trend.
Banking stocks, brokerage stocks and insurance stocks lost strength yesterday. And insurance stocks, in particular, were hit hard. Stocks of China's two major oil companies also lack momentum. Most large-cap stocks fell yesterday. As a result, the weakening of weighted stocks pushed Shanghai Composite down.
A-shares may continue to fall but still have chances to rebound because the National People's Congress and Chinese People's Political Consultative Conference are coming soon. Usually, capitals will flow to sectors that are emphasized in the meeting. If you want change stocks recently, those meetings offer good opportunities, such as stocks related to environmental protection, agriculture and old-age care.
(Zheng Buchun is NBD's columnist)
Email: tanyuhan@nbd.com.cn