A-share market closing review: The three major indexes closed lower, with a decrease in trading volume of 700 billion. Military stocks showed strength.

Today's market saw a decrease in trading volume, with all three major indices collectively falling by the closing bell. Funds switched positions, leading to significant adjustments in previously strong sectors such as oil, gas, and shipping. The market saw a total turnover of 2.3 trillion, down by over 700 billion from the previous trading day, with over 3600 stocks falling in both markets. On the market front, the defense sector was active against the trend, with Avic(chengdu)Uas rising by over 16%, and stocks like Aerospace CH UAV hitting the limit up. Guoxin Securities pointed out that the "Fifteenth Five-Year Plan" proposes to advance the modernization of national defense and the army with high quality, accelerating the upgrading of advanced weapon systems, ushering in a new development period for defense equipment. The power equipment sector was active, with multiple stocks like Jiangsu Tongguang Electronic Wire&Cable hitting the limit up. In terms of news, the explosive growth in electricity demand from AI data centers is driving the largest expansion cycle in the US electricity grid infrastructure in decades. In the past few months, Texas, the central Atlantic China Welding Consumables, Inc., and operators in the Midwest have successively pushed forward transmission expansion plans worth up to $75 billion, with related projects approved by regulatory agencies. The stocks of the three major oil companies went through a roller coaster ride, with China Petroleum & Chemical Corporation and CNOOC Limited hitting the limit down at the opening. The three companies stated that the closing prices of their A-shares had deviated by over 20% for three consecutive trading days, causing abnormal fluctuations in trading. Upon self-inspection, the companies found that their production and operations were normal, industry policies hadn't undergone major changes, and there were no significant undisclosed matters. In other hotspots, concepts related to grain planting, seeds, and genetically modified organisms in agriculture continued to strengthen, with stocks like Gansu Yasheng Industrial and China Agriculture Development Seed Group hitting the limit up; HBM and storage chip concepts surged, with Biwin Storage Technology hitting the limit up. On the downside, the entire oil and gas industry chain, including oil concepts, oilfield services, natural gas, and shale gas, experienced a pullback, while port shipping concepts plummeted, and gold, silver, and precious metal concepts continued to decline, along with sectors like liquor in the consumer goods segment. Looking at individual stocks, there were 1745 gainers and 3640 decliners across both markets, with 101 stocks remaining unchanged. There were a total of 46 limit up and 27 limit down stocks. By the closing bell, the Shanghai Composite Index fell by 0.98% to 4082.47 points, with a turnover of 1113.1 billion; the Shenzhen Component Index fell by 0.75% to 13917.75 points, with a turnover of 1252.7 billion. The ChiNext Index fell by 1.41% to 3164.37 points. Capital Movement: Today, major funds focused on grabbing positions in sectors such as power equipment, marine equipment, and planting industries. Stocks with the most net inflows from major players included Biwin Storage Technology, Aerospace CH UAV, and China XD Electric. Key points: 1. Spokesperson of the Fourth Session of the Fourteenth National People's Congress: Will adhere to the strategic focus on expanding domestic demand The Fourth Session of the Fourteenth National People's Congress held a press conference at the Great Hall of the People today. The spokesperson, Lou Qinjian, addressed questions from domestic and foreign journalists regarding the agenda of the session and related work of the People's Congress. Lou Qinjian mentioned that this year, they will adhere to the strategic focus on expanding domestic demand, vigorously boost consumption, and promote the construction of a strong domestic market. Lou Qinjian also stated that the key to technological innovation and development lies in core technology that is independently controllable. During the "Fifteenth Five-Year Plan" period, efforts will be made to strengthen original innovation and key core technology breakthroughs, accelerate the integration of scientific and industrial innovation, and decisively break through key core technology challenges in key areas. 2. National Bureau of Statistics: The Purchasing Managers' Index (PMI) for the manufacturing industry in February was 49.0% Data from the National Bureau of Statistics shows that in February, the Purchasing Managers' Index (PMI) for the manufacturing industry was 49.0%, a decrease of 0.3 percentage points from the previous month, indicating a slight decline in the manufacturing industry's business activity. In February, the non-manufacturing business activity index was 49.5%, an increase of 0.1 percentage point from the previous month, showing an improvement in the non-manufacturing industry's business activity. In February, the comprehensive PMI output index was 49.5%, a decrease of 0.3 percentage points from the previous month, indicating a slight slowdown in overall production and business activities of Chinese enterprises compared to the previous month. 3. Lei Jun's proposal at the Two Sessions: Promote the application of general humanoid Siasun Robot&Automation in intelligent manufacturing Today, Lei Jun, a national People's Congress delegate, founder and CEO of Xiaomi Group, mentioned in his proposal submitted during this year's Two Sessions the acceleration of the application of general humanoid Siasun Robot&Automation in intelligent manufacturing. Lei Jun suggested focusing on the actual production needs of intelligent manufacturing, with a focus on improving the process stability of humanoid Siasun Robot&Automation, aiming to achieve a breakthrough in MTBF (mean time between failures) exceeding 10,000 hours and a success rate of tasks exceeding 99% by 2027. Future outlook: 1. Open Source Securities: A-shares still have room for expansion Wei Ji Xing, the chief strategist of Open Source Securities, advised investors to not lose confidence in a positive market trend due to short-term fluctuations and adjustments. Structurally, from the perspective of the securitization rate indicator, A-shares still have room for expansion, combined with the relative profit advantages of the technology, media, and communications sectors, the "AI+" sector is expected to receive support in the current stage. 2. Changjiang Securities: The market is likely to maintain a trending upwards trend Changjiang's chief strategist Dai Qing defined the market trend for March as the second half of the "spring frenzy." He believes that the market is likely to maintain a trending upwards trend, with an overall style balance. In terms of specific configuration, Dai Qing suggested focusing on three main themes: first, the technology sector, with a continued focus on the prosperity theme of AI infrastructure, including electricity, storage, and computing power directions such as optical modules, storage, semiconductor equipment, etc.; second, focusing on the opportunities from the energy revolution and the new and old energy opportunities brought about by supply constraints, including traditional energy sources such as lithium batteries and metal chemistry; third, focusing on consumer sectors such as automobiles. 3. China Securities Co., Ltd.: The Iran situation has three-level impacts on the capital market In recent years, global pricing remaining liquidity, the situation in Iran is linked to global energy prices, determining the trend of inflation and whether the main asset line reverses. The situation in Iran has three-level impacts on the capital market: first, soaring crude oil drives inflation up; second, rising inflation triggers liquidity changes; third, the rising energy prices restructure the global supply chain. The depth of the impact of the Iran situation on the market depends on whether the Strait of Hormuz, the Middle East's vital artery, is disrupted, the degree of disruption, and its sustainability. The current outlook forecasts the Middle East's oil supply situation and calculates the future possibilities of oil prices. Once the control of the Strait of Hormuz, this vital transportation passage in the Middle East, is in hand, along with the supply of crude oil from Latin America and North America, the three major boards of North America, Latin America, and the Middle East contribute 65% of the global oil supply, reshaping the landscape of the global supply chain. In this context of reshaping the global supply chain, the US regaining dominance in the old energy system, Iran holds strategic significance for the US. This article was originally published on "Tencent self-selected stocks", GMTEight editor: Liu Jiayin.