"Black Monday"! Just now, once again witnessed history.

【Introduction】The Asia-Pacific markets generally declined, with the Shanghai Composite Index falling over 1%; oil and coal stocks defied the trend and strengthened, leading to a surge in futures markets; prices once soared over 30%, marking a historic surge in international oil prices.

Hello everyone! Let’s take a look at the morning market trends and news~

On the morning of March 9, the Asia-Pacific markets collectively experienced a “Black Monday,” with Japanese and Korean stocks both heavily impacted.

The A-share market’s decline narrowed. By midday, the Shanghai Composite Index fell 1.13%, the Shenzhen Component Index dropped 2.14%, and the ChiNext Index declined 2.42%.

The total market half-day trading volume reached 1.8 trillion yuan, significantly higher than the previous trading day; over 4,500 stocks declined.

In industry sectors, communication and electronics led the decline in the morning, while machinery, building materials, and defense military industries also fell. Optical modules and optical communication concept stocks plummeted; meanwhile, coal and oil sectors defied the trend and strengthened.

The commodities market experienced a rare “limit-up wave”: nearly 30 varieties including container shipping routes, crude oil, fuel oil, low-sulfur fuel oil, methanol, caustic soda, pure benzene, styrene, asphalt, rubber, liquefied gas, coking coal, ethylene glycol, bottle chips, short fibers, para-xylene, PTA, urea, palm oil, rapeseed oil, propylene, PVC, plastics, and polypropylene all hit their daily limit-up.

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Deep correction in communication and electronics sectors

Optical module concept stocks plunge

On the morning of March 9, the communication and electronics sectors in the A-shares market collectively corrected, with both sectors falling more than 4% by midday.

Optical module and optical communication concept stocks all declined. Notable stocks include Robotech (300757), which fell over 10%, Shengke Communication, Guangku Technology (300620), Yuanjie Technology, Changxin Bochuang (300548), Deke Li, and Taichen Guang (300570), all experiencing significant drops.

Circuit board index declined, with Inno Laser (301021) dropping over 10%, Jingwang Electronics (603228), Huazheng New Materials (603186) falling over 8%, Shengyi Technology (600183), and Shenzhen Circuit (002916) dropping over 7%.

Oil sector strengthens

International oil prices continue to surge

On March 9, international oil prices saw a historic surge, with WTI crude oil intraday rising over 31%, briefly surpassing $119 per barrel.

Recently, Iran’s ambassador to China, Faziri, responded to the Strait of Hormuz issue, stating: “Iran has always been a security guarantor for the passage through the Strait of Hormuz, and it still is.” Faziri said the US is the source of insecurity in the region, and the US can only ensure the safety of the Strait and energy routes by leaving the region, rather than increasing military presence.

Due to ongoing conflicts, oil transportation in the Middle East remains disrupted, with major oil-producing countries like Iraq and Qatar previously announcing production cuts. JPMorgan estimates that if the Strait of Hormuz, a critical global energy channel, remains restricted, the daily crude oil production in the Middle East could decrease by over 4 million barrels by the end of next week.

In the morning, the oil sector in the A-shares market showed some strength, with China National Offshore Oil Corporation (600938) hitting the daily limit-up, reaching a new high since listing with a market value of 2.12 trillion yuan; China National Petroleum Corporation (CNPC) rose over 9% intraday.

Additionally, coal stocks defied the trend and strengthened, with Shanxi Coal International (600546), Lanhua Sci-Tech (600123), Yankuang Energy (600188), and China Coal Energy (601898) all surging.

Guosheng Securities (002670) mentioned in a research report that the world’s largest liquefied natural gas (LNG) export facility in Qatar has shut down, increasing market uncertainty. Northeast Asia heavily relies on energy imports, and coal demand is expected to be supported. The duration of Middle East conflicts and the pace of recovery are the biggest uncertainties; if Indonesia’s exports tighten and geopolitical conflicts overlap, international coal prices could receive stronger support.

Zhongnan Culture resumes trading with a one-word limit-up

On March 9, Zhongnan Culture (002445) resumed trading at 3.06 yuan per share, up 10.07%. By midday, it maintained a one-word limit-up, with the top bid exceeding 2.09 million shares.

News-wise, late last night, Zhongnan Culture announced a major asset restructuring plan. The company plans to acquire a 57.30% stake in Jiangyin Sulong Thermal Power Co., Ltd., held by Jiangyin Electric Power Investment Co., Ltd., through issuing shares and cash payments. This transaction is expected to constitute a related-party transaction.

The plan indicates that after completion, Zhongnan Culture’s business layout in the power and energy sector will be expanded, helping to enhance core competitiveness in both machinery manufacturing and power energy fields. Sulong Thermal Power mainly operates thermal power and heating businesses and is diversifying investments in energy, focusing on large-scale new energy projects.