The Economic Information Daily reported on the 13th that Shanghai and Shenzhen stock markets fluctuated and adjusted in early trading, with the decline of the three major indices narrowing. The SSE Composite Index fell 0.27% at midday, closing at 3,787.16 points; the Shenzhen Component Index dropped 0.78%, and the ChiNext Index also declined 0.95%. Trading volume in the two markets reached 1.0082 trillion yuan (RMB, same below) in the morning session, down 5.2 billion yuan or 0.51% compared to the same period on the previous trading day.
On the trading front, battery-related concepts fluctuated lower, with sodium-ion batteries, power batteries, and solid-state battery sectors leading the declines. Shanghai Xibai (SHA: 603200) and TranSens Technology (SHE: 002866) hit the daily trading limit down. On the news front, starting April 1 next year, the value-added tax export rebate rate for new energy vehicles will be reduced from 13% to 9%. According to the Shanghai Securities News, the solid-state battery research and development efforts of multiple Chinese automakers are accelerating. On the 12th, a responsible person from Chery Automobile (09973) revealed that the company's solid-state battery development within its battery division is steadily progressing.
In addition, affected by the sharp decline in lithium carbonate futures, A-share lithium mining stocks fell collectively, with Zhongwei New Materials (SHE: 300919) and Guoxuan High-Tech (SHE: 002074) among the worst performers. The pharmaceutical sector was also dragged down by the correction of its U.S. peers, with weight-loss drugs, immunotherapy, and AI healthcare concepts weakening during the session. From October 6 to October 12, the U.S.-listed AI pharmaceutical company Twist saw its stock price retreat over 25% after a sharp rise.
On the upside, the oil sector rose逆势, as the UK Maritime Trade Office issued multiple maritime alerts indicating that six vessels were attacked consecutively on November 11 in the Strait of Hormuz and nearby waters of the Gulf of Oman. Analysts pointed out that recurring Middle East tensions have lifted geopolitical risk premiums, coupled with the traditional peak season, oil shipping rates are expected to continue rising. Guosen Securities noted that due to geopolitical conflicts, the central forecast for Brent crude and WTI oil prices in 2026 is expected to be between $80 and $100 per barrel. (wn)
On the trading front, battery-related concepts fluctuated lower, with sodium-ion batteries, power batteries, and solid-state battery sectors leading the declines. Shanghai Xibai (SHA: 603200) and TranSens Technology (SHE: 002866) hit the daily trading limit down. On the news front, starting April 1 next year, the value-added tax export rebate rate for new energy vehicles will be reduced from 13% to 9%. According to the Shanghai Securities News, the solid-state battery research and development efforts of multiple Chinese automakers are accelerating. On the 12th, a responsible person from Chery Automobile (09973) revealed that the company's solid-state battery development within its battery division is steadily progressing.
In addition, affected by the sharp decline in lithium carbonate futures, A-share lithium mining stocks fell collectively, with Zhongwei New Materials (SHE: 300919) and Guoxuan High-Tech (SHE: 002074) among the worst performers. The pharmaceutical sector was also dragged down by the correction of its U.S. peers, with weight-loss drugs, immunotherapy, and AI healthcare concepts weakening during the session. From October 6 to October 12, the U.S.-listed AI pharmaceutical company Twist saw its stock price retreat over 25% after a sharp rise.
On the upside, the oil sector rose逆势, as the UK Maritime Trade Office issued multiple maritime alerts indicating that six vessels were attacked consecutively on November 11 in the Strait of Hormuz and nearby waters of the Gulf of Oman. Analysts pointed out that recurring Middle East tensions have lifted geopolitical risk premiums, coupled with the traditional peak season, oil shipping rates are expected to continue rising. Guosen Securities noted that due to geopolitical conflicts, the central forecast for Brent crude and WTI oil prices in 2026 is expected to be between $80 and $100 per barrel. (wn)
