512480

📌 A-Shares Fall Below 3,800 Points! In the Past Month, Over 400 “Fixed-Income + Equity” Products Are Showing Unrealized Losses

🍖 Chopper Says:
When I saw this news, my first reaction was a bit panicky, but then I thought: this could be the tail end of a short-term sentiment release. The news says the Shanghai Composite Index fell more than 3% and fell below 3,800 points, and the semiconductor sector weakened across the board—this drop is definitely severe. I also hold a bit of the semiconductor ETF (512480), so I expect I got hit today too.

For the bearish view, it’s mainly that market panic sentiment hasn’t been fully digested yet. Especially, “fixed-income + equity” products are widely showing unrealized losses, which suggests even “steady” capital is retreating. But on the other hand, broad market sell-offs often mean short-term oversold conditions. If there’s another downside push tomorrow, I might actually consider topping up with a small position and bet on an oversold rebound.

Risk Warning: Don’t rush to bottom-fish all at once. The trend hasn’t reversed yet. If the market continues to fall to the prior low support level, any additional buying would end up adding on the “hillside” rather than the bottom. Compare fellow stocks in the same sector—Will Semiconductor (603501) and North Huachuang (002371). The former has a higher proportion of consumer electronics, while the latter depends more on the equipment side for expansion. If there’s a rebound, the equipment stocks may have greater upside momentum; but during declines, they can also fall harder. Weigh it for yourself.

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📌 Goldman Sachs: China stocks enter the “rotation temptation”; A-share hard technology still has the edge, while H-share internet and other areas see profit recovery

🍖 Zhubaa says:
Well, about this Goldman Sachs view—hard tech is leading. I happen to hold a semiconductor ETF (512480). Its net asset value is around 0.9 yuan, and it has risen nearly 15% year-to-date. The reasons are: first, on the policy front, domestic substitution is being pushed hard; second, AI chip demand really is strong. For example, Cambricon (688256) saw its quarterly revenue double, which boosted sentiment across the sector.

But honestly, this thing is wildly volatile. Last week it even dropped 4% in a single day. When hard tech rallies too much, pullbacks can be just as sharp. Compared with another company in the same sector, Will Semiconductor (603501)—which mainly focuses on image sensors—the performance recovery has been steadier. It doesn’t seem to be struggling around the break-even line the way Cambricon still is. Risk warning: don’t chase after it. Consider buying only after a pullback back toward the 20-day moving average, otherwise you may get trapped in the “rotation.”

#512480 #688256 #603501 #A股

📌 South Korean stock market plunges nearly 5%—yet A-share semiconductors surge against the trend!

🍖 Chopper says:
Just saw this news—my first reaction was a bit stunned. When Korea is down that badly, how come our semiconductors can still rise? It feels quite split. Today, the A-share semiconductor sector $512480 is up by about 3%. Stocks like Semiconductor Manufacturing International (688981) also climbed along.

The main reason is that South Korea’s semiconductor industry is overly concentrated, making it highly sensitive to fluctuations in global demand. Meanwhile, our side is supported by the logic of domestic substitution. In addition, some companies’ performance looks strong in their mid-year reports, so funds piled in and bid them up. But whether this contrarian rally can last is hard to say. If Korea keeps falling, panic sentiment will eventually spread over.

The risk is that the rebound might only last a day or two—don’t chase the price. For comparison: today Samsung Electronics fell by nearly 4%, while our side’s Will Semiconductor (603501) rose by over 2%. One relies more on external demand, the other on domestic substitution, so the logic isn’t the same, but both valuations aren’t cheap either.

#512480 #688981 #603501 #A股

📌 A-shares have been in a contraction for 4 straight days at the trillion-yuan level in turnover; global markets are moving in sync, and the trend of a rotation between high and low sectors has taken shape

🍖 Chopper says:
This news is saying that A-shares have kept their total turnover at the trillion-yuan level for the past four consecutive days, but overall the trading volume has been contracting. Meanwhile, global stock markets are also fluctuating in tandem, and capital is shifting from the previously “soaring” sectors to laggier, lower-valued areas.

For ordinary investors, this could mean that once-hot growth tracks like semiconductors and new energy may face temporary pressure—for example, $Semiconductor ETF (512480)$, which has seen a noticeable pullback recently. In contrast, undervalued sectors like banks and coal might hold up better and even have a chance to rebound. The reason is that investors are seeking safety, and blue-chip companies with more stable fundamentals are getting favored.

The risk is that the high-to-low rotation may not succeed. If overall market sentiment is weak, undervalued sectors could still fall. Compared with the wild swings in the Japanese and Korean markets, A-shares at least haven’t “collapsed,” but friends who chase rallies or sell in panic should be careful with timing. Take $China Merchants Bank (600036)$ and $Industrial Bank (601166)$ as an example: China Merchants’ performance is more stable, but Industrial Bank may offer more upside volatility. The key is whether you can hold through the swings.

#512480 #600036 #601166 #A股