A-share Market Close Review | All three major indices closed higher, with the ChiNext Index up 2.25%; the semiconductor industry chain led the gains.

On September 18, the three major A-share indices fluctuated upward throughout the day and closed higher collectively, with the ChiNext Index and the STAR 50 leading the gains. As of the close, the Shanghai Composite Index rose 0.94% to 3,911.87 points, the Shenzhen Component Index rose 1.72% to 13,640.87 points, the ChiNext Index rose 2.25% to 3,372.68 points, the STAR 50 rose 2.88% to 1,652.63 points, and the BSE 50 rose 1.79% to 1,044.34 points. Total turnover across the Shanghai and Shenzhen markets for the full day was approximately 2.08 trillion yuan, an increase of about 254 billion yuan from the previous trading day. Across the entire market, 4,234 stocks rose, 1,152 fell, and 179 were flat, with 80 hitting the daily limit up and 1 hitting the daily limit down, meaning about 76% of stocks advanced. On the board, the semiconductor industry chain, recent IPOs, and real estate sectors led the gains, while stocks in major consumer and innovative drug sectors were active in select areas; coal, banking, and complete vehicle sectors edged lower. Drivers The three major indices closed higher collectively, with the ChiNext Index up 2.25% and the STAR 50 up 2.88% leading the gains, while the Shanghai Composite Index rose 0.94%, the Shenzhen Component Index rose 1.72%, and the BSE 50 rose 1.79%. Turnover across the Shanghai and Shenzhen markets was approximately 2.08 trillion yuan, an increase of about 254 billion yuan from the previous trading day, a clear expansion in volume. Across the entire market, 4,234 stocks rose and 1,152 fell, with 80 hitting the daily limit up and 1 hitting the daily limit down, meaning about 76% of stocks advanced, showing a notable money-making effect. The semiconductor industry chain strengthened across the board, with the semiconductor sector rising 3.95% to top the industry gainers list, as semiconductor equipment, memory chips, advanced packaging, and lithography machines all surged collectively. The Ministry of Industry and Information Technology and nine other departments jointly issued the "15th Five-Year" Plan for the Development of the Pharmaceutical Industry, driving strength in innovative drugs, CRO, and other pharmaceutical sectors. Among popular sectors 1. Semiconductor industry chain: semiconductors, computing power chips, memory chips, lithography machines, and other directions rose broadly, ranking among the top gainers in both markets. Tolerance Technology hit the 20CM daily limit up, while Tianshui Huatian Technology, ChengBang Syncore Technology, Wuxi Holyview Microelectronics, and Beken Corporation hit the daily limit up. On the news front, according to a September 17 report by China Securities Journal, industry insiders revealed that lead times for key components of South Korean semiconductor manufacturing equipment have more than doubled; a Micron Technology executive expects new memory supply to begin ramping only in 2028. 2. Recent IPOs: recently listed stocks surged collectively. Jiangsu Xihua New Energy Technology posted a fourth consecutive daily limit up, while Tengxin Precision, Fujian Makeng Mining, and Haian Rubber Group hit the daily limit up; Shenyang Blower Works Group (C Shengu) rose 177.74% on its second day of listing, at one point rising nearly 300% during the session. 3. Real estate: the real estate development sector rallied. China Vanke Co.,Ltd., Shenzhen Worldunion Group Incorporated, and Greenland Holdings Corporation hit the daily limit up, while Seazen Holdings touched the daily limit up during the session and closed up 9.87%. On the news front, the newly revised Regulations on the Administration of Housing Provident Funds will take effect on September 20, and the Ministry of Housing and Urban-Rural Development said at a State Council Information Office press conference on September 18 that during the "15th Five-Year" period it will expand coverage of the housing provident fund system and support self-employed individuals and flexible workers in making voluntary contributions. Sectors that pulled back Coal, banking, and complete vehicle sectors edged lower on the day and showed relatively weak performance. Henan Dayou Energy fell 3.71% to lead declines in coal, China Minsheng Banking Corp.,Ltd. fell 2.54% to lead declines in banking, and Zotye Automobile and Jiangling Motors Corporation fell 3.38% and 3.75%, respectively. Zotye Automobile had hit the daily limit up the previous day (September 17) and posted one of the larger declines on the day.