Major A-share indices were higher in early trading. As of the midday close, the Shanghai Index rose 1.21% to 3055.99 points, the Shenzhen Stock Exchange Index rose 1.65%, and the GEM index rose 2.1%. More than 1,500 shares rose. The two markets traded 655.9 billion yuan in half a day, and the net purchase of Northbound Capital was about 7.27 billion yuan.

On the plateThe leading sector in China picked up, and CRRC and CCG Hi-Tech rose and stopped last Friday. The agency expected the dividend momentum of central enterprises to increase under policy restrictions; the big financial concept rose and stopped, and Pioneer Securities rose and stopped for a while. The new “National Nine Rules” emphasized that brokerage firms put functionality first; and the airport shipping, coal mining, and processing sectors registered the highest gains. Gold stocks weakened collectively; many stocks such as Lai Shen Tongling and Zhongrun Resources fell, and spot gold prices fell; ST sector generally fell, ST Diwei quickly fell by more than 12%, and the Securities Regulatory Commission issued “Opinions on Strict Implementation of the Delisting System”; the hotel and catering sector fluctuated lower, with Junting Hotel and Huatian Hotel falling by more than 8%; the household light industry, education, attractions and tourism sectors registered the highest declines.

The leading sector in China boosted CRRC's rise and stop

CRRC and CCPC Hi-Tech rose and stopped, while China Textile Standard, China Railway Assembly, China Machinery Inspection, China Post Technology, and China Shipbuilding Hanguang registered the highest increases. CRRC made a profit after the market on Friday. It is expected to achieve net profit attributable to shareholders of listed companies of RMB 923 million to RMB 1,046 million in the first quarter of 2024, an increase of 50%-70% over the previous year.

Guosheng Securities said that the dividend rates of many central enterprises have increased markedly in 2023. In the future, under policy restrictions, dividend momentum is expected to increase, and dividend rates are expected to increase further. It is expected that market value management measures for listed central and state-owned enterprises will be introduced one after another to enhance the market value management momentum of central state-owned enterprises and accelerate valuation repair.

The concept of big finance rises and Jianyuan Trust rises and stops

Jianyuan Trust went up and down, and Pioneer Securities went up and down for a while. Cinda Securities, Western Securities, COFCO Capital, CNPC Capital, and China People's Insurance Company followed suit. According to the news, the Open Source Securities Research Report stated that the new “National Nine Rules” emphasize that brokerage firms put functionality first, that investment banking and wealth management capacity building are future priorities, that the futures and derivatives markets are developed in a steady and orderly manner, and that the focus of brokers' business may once again lean towards capital-light business.

Gold stocks collectively weakened, and many other stocks such as Raixen Tongling fell to a standstill

Many stocks such as Lai Shen Tongling, Zhongrun Resources, Cuihua Jewelry, and Shenzhen China A fell to a halt, while Feinan Resources, Xiaocheng Technology, and Mancaron had the highest declines. According to the news, spot gold reached a record above $2,431 per ounce in the intraday session on Friday. Since then, it has declined all the way back and fell more than 1%, falling close to $100 in the intraday period.

ST sector generally fell, ST Divi quickly fell by more than 12%

ST Diwei quickly fell by more than 12%, *ST Yuebo and *ST Sansheng fell by more than 11%, *ST Meishang and ST Goldwin fell by more than 10%, *ST Changfang, *ST Zuojiang, and ST Tianlong followed suit. According to the news, the Securities Regulatory Commission issued “Opinions on Strict Implementation of the Delisting System”. These include lowering the threshold for 2 years of financial fraud triggering major illegal delisting, and adding 1 year of serious fraud and many years of continuous fraud and delisting. Furthermore, when publicly soliciting comments from the market on April 12, the Shanghai Stock Exchange stated that the market capitalization delisting target for A shares (including A+B shares) listed on the Main Board will be raised to 500 million yuan, while the Science and Technology Innovation Board is still 300 million yuan. On the same day, the Shenzhen Stock Exchange proposed to appropriately raise the market capitalization delisting standard for main board A shares (including A+B shares) companies to 500 million yuan.