A-share Market Open Express | The three major indices opened slightly lower, while the STAR 50 opened higher against the trend.

Opening Data On September 16, the Shanghai Composite Index opened 0.07% lower at 3,861.75 points, the Shenzhen Component Index opened 0.08% lower at 13,276.85 points, and the ChiNext Index opened 0.03% lower at 3,246.89 points. The STAR 50 opened 0.41% higher at 1,558.38 points. As of 9:32, a total of 1,149 stocks in the Shanghai and Shenzhen markets were advancing, 4,102 were declining, and 313 were flat. Top gainers: rubber, oilfield services engineering, communication equipment, precious metals, optical communication concept, PVDF concept, etc. Wind power equipment and tire concept strengthened slightly; top decliners: tourism and scenic spots, Shenzhen Agricultural Power Group processing, commercial vehicles, batteries, construction machinery, glass and fiberglass, agricultural reclamation concept, cotton concept, duty-free shop concept, etc. Market Conditions On the market, the three major indices weakened slightly after the open. As of 9:32, the Shanghai Composite Index stood at 3,857.06 points, down 0.19%; the Shenzhen Component Index stood at 13,229.06 points, down 0.44%; the ChiNext Index stood at 3,232.21 points, down 0.48%; and the STAR 50 stood at 1,554.66 points, up 0.17%, the only one among the four indices in positive territory. At the sector level, rubber, oilfield services engineering, communication equipment, precious metals, and the optical communication concept were among the top gainers. Rising oil prices provided some support to the oil and gas sector. Wind power equipment and the tire concept strengthened slightly, pulling back after intraday highs, while shipping ports opened higher and then fluctuated lower; glass and fiberglass, batteries, tourism and scenic spots, Shenzhen Agricultural Power Group processing, and commercial vehicles were among the top decliners. As of 9:32, there were 8 limit-up stocks and 8 limit-down stocks in the two markets, with advancers accounting for about 20% of the total, and more stocks declining than advancing at the individual stock level. Overnight News at a Glance Overseas markets: On September 15, the three major U.S. stock indices closed lower, with the Dow down 0.63% and the Nasdaq down 0.78%. The yield on the U.S. 10-year Treasury note closed at 5.006%, the first close above 5% since July 2007; the October WTI crude oil contract rose 4.38% to $105.83 per barrel. CME interest rate futures showed the probability of a 25-basis-point Fed rate hike in September at over 90%. Domestic policy: The Ministry of Industry and Information Technology and the National Development and Reform Commission jointly issued the "15th Five-Year Plan for the Development of the Electronic Information Manufacturing Industry," proposing that by 2030 the operating revenue of above-scale enterprises exceed 30 trillion yuan, and breakthroughs be made in new memory products such as high-bandwidth flash and high-bandwidth memory. Data from the National Bureau of Statistics showed that in August, the value added of above-scale industrial enterprises increased by 5.2% year on year. Industry news: Japanese companies including JSR, Tokyo Ohka Kogyo, and Shin-Etsu Chemical announced that starting October 1, 2026, global customer pricing for photoresists will be raised by 15% across the board, with immersion ArF for HBM specifically raised by up to 24%. Data from Sublime China Information showed that the ex-factory price of domestic 7628 electronic cloth rose 10%20% month on month. Trend Analysis Today, the three major indices opened slightly lower, with the Shanghai Composite Index down 0.07%, the ChiNext Index down 0.03%, and the STAR 50 up 0.41%, and the indices weakened slightly after the open. Overnight external pressure was the main disturbance: before the results of the Federal Reserve's September policy meeting were announced, the U.S. 10-year Treasury yield stood above 5%, the three major U.S. stock indices closed lower, and weakening overseas risk appetite weighed on A-share openings. On the market, a jump in oil prices drove relative activity in the oil and gas sector, with oilfield services engineering among the top gainers, while wind power equipment extended the relatively strong pattern from the previous trading day; glass and fiberglass, which led gains in the previous trading day, pulled back today and were among the top decliners, while planting, commercial vehicles, and other sectors that weakened in the previous trading day continued to adjust, and market structural divergence remained fairly obvious. The impact of external disturbances on A-shares may remain largely temporary; however, before key information such as the Fed decision and geopolitical developments is settled, the short-term market may remain range-bound, and direction selection still awaits confirmation from trading volume and risk appetite.