A-shares led the world in terms of decline in the first quarter of this year.
Mainland A-shares fell the most in the world in the first quarter, with market value down 1.38 trillion yuan (RMB, same below) from the end of last year, and investors lost 12,000 yuan per capita.
According to the mainland’s Oriental Fortune Network, in the first quarter, looking at the world’s major stock markets, except for the Manila Composite Index, which fell 9.76%, the mainland A-shares fell the most: the Shanghai Index fell 0.9%, the Shenzhen Index fell 4.78%, and the Growth Enterprise Market Index fell 7%. As for other important stock markets, Taiwan’s weighted performance was the best, jumping 11.53% in the quarter; followed by European stocks, with France’s CAC40 up 9.41% and Germany’s DAX30 up 9.33%; the three major U.S. stock indexes, Dow Jones up 8.04%, S&P 500 up 5.39% and Nasdaq up 1.22% (U.S. stock market as of March 30).
If we look at market capitalization, the total market capitalization of A-shares was 78.21 trillion yuan as of the close of March 31, down 1.38 trillion yuan from 79.59 trillion yuan at the end of 2020.
According to the data disclosed by China Securities Depository and Clearing Corporation Limited, the number of A-share natural person investors reached 180 million by the end of February this year. Based on this calculation, the per capita loss of stockholders in the first quarter was about 7,600 yuan. If we deduct the total market value of 0.78 trillion yuan of new shares listed this year as of the close of business on March 31, the loss per capita will increase to 12,000 yuan in the first quarter, also calculated on the basis of 180 million people.
From the perspective of industry sectors, in the first quarter, Shen Wan primary industry index of 28 industries, 13 rose, including steel, utilities and banking three major industries rose more than 10%; in the decline of 15 industries, defense industry, non-banking finance, communications, automotive and computers, the five major industries fell more than 10%, specifically down 19.19%, 12.55%, 11.17%, 11% and 10.33%.
The yellow calendar New Year has become a watershed for the mainland stock market in the first quarter, the stock market rose before the New Year, the three major indices even brushed out the stage highs for many years, but after the New Year began to fall.
As of March 31, the last trading day of March, the last month of the first quarter, the three major A-share indices collectively closed lower, with the Shanghai Stock Exchange Index down 0.43% at 3,441.91 points, the Shenzhen Stock Exchange Index down 0.79% at 13,778.67 points and the Growth Enterprise Market Index down 0.46% at 2,758.50 points, Securities Daily reported on March 31. The combined turnover of the Shanghai and Shenzhen markets was below 700 billion yuan, at 687.437 billion yuan, a significant contraction from the previous trading day.
In the whole month of March, the Shanghai Stock Exchange Index fell 1.91% in aggregate. The performance of the SZSE and GEM indices in March was more vulnerable, with a cumulative drop of more than 5%, down 5.02% and 5.34% respectively.
Shenwan level 28 industry indexes, 10 industry indexes to achieve gains during the period, but non-ferrous metals, defense industry, agriculture, forestry, animal husbandry and fishery, chemical industry, non-banking finance industry index during the cumulative decline in the top, down 10.21%, 8.65%, 7.56%, 6.49%, 6.48%, respectively.
Market capital also showed an obvious outflow trend, in March, 28 Shenwan level industry during the large single capital net outflow trend, of which, non-ferrous metals, electronics, non-banking finance during the large single capital net outflow of more than 40 billion yuan, respectively, 57.799 billion yuan, 47.426 billion yuan, 40.186 billion yuan.
Zhu Sheng, a researcher of private placement ranking network, said when commenting on the mainland stock market in March, under the influence of liquidity tightening expectations and upward factors of U.S. bond yields, the overall market valuation pivot down, large blue chips have seen a relatively large pullback, the market is not enthusiastic enough to do more, and the overall mood is cautious.
Fangxin wealth investment fund manager Hao Xinming also said, “March market is in a weak finishing state, with the amount of down after the rebound is weak, in recent days although there is a rebound but not strong, is on March is a trend down in the weaker a long resistance.”
For the mainland’s future stock market direction, especially in April towards, Hao Xinming that the trend in April is expected to continue the weak rebound trend, and then the probability of a downward breakthrough is greater, so investors should remain cautious.
Zhu Sheng also believes that the current macro market environment is relatively uncertain in significantly increased, the currency will still be marginal tightening, the international situation of uncertainty is also significantly enhanced, the possibility of a sharp rise in the stock market is small, the current market situation may only be defined as an oversold rebound rather than a reversal, the overall market in April is still more likely to maintain a wide range of oscillations.
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