March 3rd Midday Review: Shenzhen Component Index Drops Over 1% in Half a Day, Oil and Gas Stocks Continue to Surge

The market opened high and then fell in the morning, with all three major indices dropping over 1% during the session, before rebounding after hitting a low. Oil and gas stocks continued to surge, with PETROCHINA, CNOOC, Tongyuan Petroleum, and Zhun Oil Co., Ltd. among several stocks hitting the daily limit. The natural gas sector rose, with XINJIANG XINTAI NATURAL GAS, Hongtong Natural Gas, Shuifa Gas, and Dazhong Public Utilities all closing at the limit. On the downside, the military industry sector declined, with Hangya Technology dropping over 10%. At the midday close, the Shanghai Composite Index fell 0.07%, the Shenzhen Component Index fell 1.05%, and the ChiNext Index fell 0.44%