A-share Market Close Review | Indices opened high and closed low, AI and pharmaceuticals led gains

On September 22, the three major A-share indices opened high and closed low, with mixed gains and losses. The Shanghai Composite Index edged up, while the Shenzhen Component Index and ChiNext Index closed roughly flat, and the BSE 50 led the decline. Across the Shanghai and Shenzhen markets, more stocks fell than rose. As of the close, the Shanghai Composite Index rose 0.06% to 3,952.13 points, the Shenzhen Component Index fell 0.05% to 13,723.74 points, the ChiNext Index rose 0.01% to 3,399.93 points, the STAR 50 rose 0.46% to 1,665.04 points, and the BSE 50 fell 1.08% to 1,046.80 points. Total turnover across the Shanghai and Shenzhen markets for the full day was about 2.14 trillion yuan, an increase of about 104 billion yuan from the previous trading day. In the Shanghai and Shenzhen markets, 2,374 stocks rose, 3,030 fell, and 163 were flat, with 65 hitting the daily limit up and 5 hitting the daily limit down, and gainers accounting for about 42%. On the board, advertising and marketing, publishing, real estate services, CPU concept, tumor vaccines, and digital media were among the top gainers; shipping ports, tourism and scenic spots, precious metals, transportation, glass, nonferrous titanium, and steel were among the top decliners. ChiNext newcomer Zhongsu Co., Ltd. (301686.SZ) closed up 683.29% at 433 yuan on its first day of listing, after rising more than 949% at one point during the session. Drivers The three major indices opened high and closed low with mixed gains and losses. The Shanghai Composite Index rose 0.06%, the Shenzhen Component Index fell 0.05%, the ChiNext Index rose 0.01%, the STAR 50 rose 0.46%, and the BSE 50 fell 1.08%, leading the decline. Turnover across the Shanghai and Shenzhen markets was about 2.14 trillion yuan, an increase of about 104 billion yuan from the previous trading day, with volume remaining above 2 trillion yuan. In the Shanghai and Shenzhen markets, 2,374 stocks rose and 3,030 fell, with 65 hitting the daily limit up and 5 hitting the daily limit down, and gainers accounting for about 42%, indicating relatively weak money-making effect. Overnight, U.S. CPU concept stocks rose collectively, with AMD closing up about 9.9% and its market value exceeding $1 trillion for the first time, Intel up more than 12%, and Arm up more than 17%. Meta's consumer-grade AI agent Muse ranked first on the U.S. iPhone free app download chart for the third consecutive day, leading the market to reassess the boost in CPU demand from the spread of agents; Hygon Information Technology today released its 1000 series CPU for physical-world scenarios in Shenzhen; the 2026 Yunqi Conference opened today in Hangzhou, where Alibaba CEO Wu Yongming said the company would fully invest in AI infrastructure AI applications and computing power chip directions strengthened on catalysts. Shipping ports, tourism and scenic spots, and precious metals were among the top decliners; Federal Reserve officials have recently signaled further rate hikes one after another, the U.S. dollar index strengthened, and international gold prices fell overnight, putting pressure on the precious metals sector. Among hot sectors 1. [AI applications and media] Advertising and marketing, publishing, and digital media were among the top gainers. Genimous Technology hit the daily limit up, Xinhua Winshare Publishing & Media hit the daily limit up at the open, and Hangzhou Raycloud Technology Co., Ltd. rose 13.92%. In terms of news, overnight Meta's consumer-grade AI agent Muse ranked first on the U.S. iPhone free app download chart for the third consecutive day, and the market reassessed AI application demand brought by the spread of agents; on brokerage research, Wanlian Securities pointed out on September 21 that Mango's 2027 co-creation ecosystem conference released 89 major dramas and multiple top IP variety shows, with AIGC content released as an independent sector for the first time with 28 works and an AI long drama scheduled for the National Day holiday, while CMSC also expressed optimism about the AI film and television industry chain. 2. [Computing power chips] The CPU concept and computing power chip directions strengthened. Suzhou Hesheng Special Material hit the daily limit up at the open, Beijing Watertek Information Technology rose 20% to the daily limit, and Hygon Information Technology rose 3.87%. In terms of news, Hygon Information Technology today released its 1000 series CPU for physical-world scenarios in Shenzhen; the 2026 Yunqi Conference opened today in Hangzhou under the theme "Intelligence for Practical Use," and Alibaba CEO Wu Yongming said the company would fully invest in AI infrastructure. 3. [Pharmaceuticals and biologics] Tumor vaccines and biological products were active. CanSino Biologics Inc. rose 10.05%, and Autobio Diagnostics (in vitro diagnostics) rose 7.53%. In terms of news, overnight U.S. stock Moderna closed up 12.27%, and market expectations for the commercialization of mRNA tumor vaccines heated up; CanSino Biologics Inc. previously signed a Strategic Cooperation Framework Agreement for the Joint Development of Personalized mRNA Therapeutic Tumor Vaccines with Dpusi Biotech on August 25. Declining sectors Shipping ports, tourism and scenic spots, precious metals, transportation, glass, and steel were among the top decliners for the day. The shipping port sector led the decline, with China Merchants Energy Shipping falling 6.24%; the precious metals sector weakened, with Shandong Gold Mining falling 2.42%, affected by Federal Reserve officials recently signaling further rate hikes one after another and a stronger U.S. dollar index, while overnight COMEX gold futures fell 0.99%.