CITICS: China A-share Market Summary for Nov.6 following, around, market, opened, China

NYboy

A-share market declined today following oversea slump. The market opened with a 2.2% gap lower and moved around the level with short-ranged fluctuations. Steel makers and brokers led key indices slightly up in the pm session but the rebound was capped by MA5-day level.
SHCI shed 2.44%, or 42.89, to 1717.72. SZCI fell 2.48%, or 145.23, to 5720.55. CSI 300 down 2.46% to 1649.78. Total turnover of two bourses narrowed 27% to 38.5bn CNY from Wednesday’s 52.9bn. Losers outnumbered gainers by 7 to 2. And most sectors moved lower.
Construction materials topped the table with strong momentum. Besides the 5 trillion transportation investment plan stimulus, railway, infrastructure and bulk commodity industries are promising to get more loans next year, according to several commercial banks’ saying. Guangzhou Iron & Steel (600894) surged 10% max and Xinjiang Bayi (600581) flied 5.07%. Hebei Taihang Cement (600553) clinched at limit-up for a second day.
Brokers reacted positive to the 2nd round of MTSS test this weekend. CITIC Securities (600030) bounced up 1.61% and Guojin Securities (600109) added 0.14%.
Coal miners corrected much across the board. China Shenhua (601088) lost 3.87% and Datong Coal (601001) dropped 4.62%. Shanxi Lu’an Environmental Energy (601699) plunged 7.43%.
Bank staged sluggish performance, impacted by cash-in pressure. Moreover, economy concern revived as China will publish Oct. figures next week. CMB (600036, -5.04%) reversed half gain from the preceding session. SPDB (600000) retreated 4.94%.