March 31 Midday Review: GEM Index Falls Over 2% in Half Day, Computing Hardware Stocks Adjust Collectively

The market surged early in the session before retreating, with the GEM Index falling over 2%. The high-speed rail and rail transit sector saw a significant counter-trend rally, with GEMAC, CHSR, Jinxi Axle, and several other stocks hitting the daily limit. The automotive sector also climbed, with YTCO hitting the daily limit. The banking sector was active against the trend, with both Bank of China and ABC rising over 3%. On the downside, computing hardware stocks such as CPO experienced corrections, with TACLINK and Han's CNC falling over 10%; the coal sector trended lower, with Zhengzhou Coal & Electricity and Yunmei Energy dropping over 7%. Losers outnumbered gainers, with over 3,800 stocks across the Shanghai, Shenzhen, and Beijing markets trading in the red; morning turnover reached 1.34 trillion yuan. At the midday close, the Shanghai Composite Index fell 0.38%, the Shenzhen Component Index fell 1.45%, and the GEM Index dropped 2.36%.