Sectors such as non-ferrous metals, low-altitude economy, and tourist hotels registered the highest declines. The Hang Seng Index opened down 1.65%. Bilibili fell more than 3%, while NetEase and JD Group fell more than 2%.
On Thursday, April 11, the three major A-share indices collectively opened lower. The Shanghai Index opened 0.45% lower, the Shenzhen Index opened 0.68% lower, and the GEM Index opened 0.71% lower.
Sectors such as non-ferrous metals, low-altitude economy, and tourist hotels registered the highest declines.
In terms of Hong Kong stocks, the Hang Seng Index opened down 1.65%. The Hang Seng Tech Index fell 2.02%. Bilibili fell more than 3%, while NetEase and JD Group fell more than 2%.
In terms of market news, the heavy US inflation data released on Wednesday exceeded expectations for the second month in a row: the CPI growth rate in March exceeded expectations by 3.5% year on year, and the core CPI did not stabilize as expected in February, but instead accelerated to 3.8%, and the growth rate was higher than expected for the third month in a row. The three major US indices collectively closed down for the first time this week. The Dow closed down 422.16 points, or 1.09%, to 38461.51 points, falling for three consecutive days until the closing low since February 14. S&P, which rebounded slightly on Tuesday, closed down 0.95% to 5160.64 points, approaching the closing low since March 15 set last Thursday. After two consecutive gains, the NASDAQ index, which had been high since April 1, fell by 0.84% to 16170.36 points.
According to data from the National Bureau of Statistics of China, in March 2024, national consumer prices rose 0.1% year on year. Among them, cities remained flat, with rural prices rising 0.1%; food prices fell 2.7%, non-food prices rose 0.7%; consumer goods prices fell 0.4%, and service prices rose 0.8%. On average from January to March, the national consumer price was the same as the same period last year.
In March 2024, the ex-factory price of industrial producers across the country fell 2.8% year on year, down 0.1% month on month; the purchase price of industrial producers fell 3.5% year on year, down 0.1% month on month. In the first quarter, the ex-factory price of industrial producers decreased by 2.7% compared to the same period last year, and the purchase price of industrial producers decreased by 3.4%.
The flying car concept led the decline
Jianxin shares fell more than 10%, while stocks such as Shuangyi Technology, Jindun Co., Ltd., Wanfeng Aowei, Shangluo Electronics, and Haite Hi-Tech fell more than 5%.
