A-shares midday review: ChiNext Index drops 2.42% in the first half of the day, oil and gas resource stocks rise, technology growth stocks generally under pressure

K-LinePoet · 2026-03-11T04:40:21+00:00

The three major indices in the A-shares market all declined in the early trading session, with the Shanghai Composite down 1.13%. Market trading volume increased, with over 4,500 stocks falling. Resource stocks rose due to rising international oil prices, while technology stocks were generally under pressure due to inflation expectations, with sectors like CPO experiencing significant declines.

K-LinePoet

2026-03-11 04:40:21

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The three major A-share indices all declined in the morning session. By midday, the Shanghai Composite Index fell 1.13%, the Shenzhen Component Index dropped 2.14%, the ChiNext Index declined 2.42%, and the Beijing Stock Exchange 50 Index decreased 3.11%. The combined half-day trading volume of the Shanghai, Shenzhen, and Beijing markets was 1.8042 trillion yuan, an increase of 406.8 billion yuan compared to the previous day. Over 4,500 stocks in the market declined.

In terms of sectors and themes, the top gainers included oil and gas extraction and services, coal mining and processing, power grid equipment, precious metals, fertilizers, and poultry farming. The biggest declines were seen in CPO, lithography machines, cultivated diamonds, optical fibers, high-speed copper cable connections, PET copper foil, airport shipping, and PCB concepts.

On the market, ongoing tensions in the Middle East caused international oil prices to surge after the latest trading session opened. Resource cycle stocks such as oil and natural gas, coal, and coal chemical industries all rose sharply, with China National Petroleum Corporation, China National Offshore Oil Corporation, and China Petroleum leading the gains. The cloud computing and computing power leasing sectors performed positively, with UCloud’s 20cm stock hitting the daily limit, driven by AI Agent developments like OpenClaw.

Policy signals emphasized the coordination of power and electricity, maintaining recent strength in the power grid equipment sector, with stocks like Shun Na Shares and Sanbian Technology hitting the daily limit.

Conversely, the surge in oil prices raised inflation expectations, putting pressure on technology growth stocks. Hardware stocks related to computing power such as CPO, PCB, and optical fibers led the declines, with more than ten stocks including Zhongfu Circuit and Robotech falling over 10%. Similarly affected by high oil prices, the airport shipping sector saw significant declines, with Air China, China Eastern Airlines, and Spring Airlines among the biggest losers.

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