China's CPI in September rose 0.9% year-on-year, an increase of 0.1 percentage points from August and the highest since June this year, but slightly below the market expectation of 1%. Analysts pointed out that China's inflation level remains relatively mild and manageable, and the most severe deflationary pressure may have passed, though downward pressure still exists. Another analysis noted that in the short term, insufficient demand's drag on inflation needs to be monitored, especially after the fading of energy price shocks.
On the trading floor, semiconductor and memory chip sectors led the declines. Rare Earth New Materials (Shanghai: 600206) hit the daily lower limit, as ChangXin Memory plans to launch new dynamic random access memory (DRAM) products by year-end, continuing to pressure peers. Additionally, CEOs of two major semiconductor companies, Intel and Broadcom, indicated that investors have very high expectations for artificial intelligence (AI) returns, and funding supply could become an obstacle to AI development, dragging semiconductor stocks further down.
On the upside, international oil prices continued to rise, with Brent crude futures climbing above $107.15 per barrel, driving the petroleum sector higher, as all three major oil companies posted gains. The coal sector rose against the broader market trend. Datong Securities noted that the seasonal maintenance of the Daqin railway line, coupled with power plants' winter stockpiling expectations, supports the coal supply-demand balance. Furthermore, rising risks in global energy supply and increased commodity trading have attracted continuous capital inflows during this relatively weak market phase. (wn)
| Close (points) | Change (%) | Trading value (billion RMB) | |
|---|---|---|---|
| SSE 300 | 4217.68 | -1.36 | |
| Shanghai Composite Index | 3767.23 | -0.88 | 6624.92 |
| Shenzhen Component Index | 12110.59 | -1.97 | 7519.11 |
| ChiNext Index | 2866.76 | -3.10 | |
| Kechuang 50 | 1380.26 | -3.29 | |
| B Share Index | 304.46 | -1.50 | 1.46 |
| Shenzhen B Share Index | 1161.17 | +0.09 | 0.54 |
