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Market Review
Last week, Shenzhen Component Index stood at 13518.5 points after adding 3.9%. SME Index edged up 3.8% to 9075.2 points. ChiNext Index advanced 4.1% to 2897.8 points. Total turnover for stocks and funds on SZSE was US$545.0 billion, or a 27.0% increase from the week before.
15 sector indices were higher than previous week, and 1 was lower. Sector indices with the biggest gains were transportation and logistics, hotels & catering and environmental services. The only sector index that fell over the last week was finance.
Top 3 gainers were Zhejiang Garden (300401), Lianyungang Huanghai (002680) and Shanghai Dragonnet (300245). Top 3 decliners were Shantou Wanshun (300057), Nafine Chemical (000737) and Guangdong Anjubao (300155). The most active stocks for the last week were East Money (300059), Suning Commerce (002024) and Boe Technology (000725).
Market News
The First “Small Public Offering” Corporate Bonds Listed on SZSE
On July 23, the corporate bonds (“15 Hunan Gold 01” and “15 RiseSun 01”) issued via public offering to qualified investors successfully got listed on Shenzhen Stock Exchange. These are the first batch of “small public offering” bonds issued after the promulgation of the Management Measures for Issuance and Trading of Corporate Bonds by CSRC. Under the new rules, the approving procedure is simplified as SZSE pre-reviewed the issuance application before passing to CSRC.
CSRC Denies Plans to Withdraw Funds
CSRC said on July 20 that it will continue to support measures to curb volatility in the A-share market, dismissing a media report which claimed that it planned to withdraw its stabilization funds from the stock market.
47 Fund Companies' AUM Scale Tops RMB100B
According to the Asset Management Association, as at the end of 30 June, the business scale of 47 fund management companies exceeded RMB 100 billion. Data showed that Tianhong Asset Management Co., Ltd., with a business scale of RMB 947.9 billion, ranks top among the 47 fund companies.
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