Although both the Shanghai and Shenzhen stock markets experienced sideways in last December, most of the major indexes recorded gains. The SSE Composite Index closed down 0.30 percent in the month at 3307.17. The average intraday turnover of the Shanghai and Shenzhen markets in the month was 394.293 billion yuan, down 24.1% percent from the previous month. The SMEs Board index rose 0.02 percent in the month.
The CSI Monthly Report (December) jointly published by China Securities Index Co., Ltd. and Shanghai Securities News shows that the broader market index performed better on the CSI A-Share Scale Index. The CSI 100 and the CSI 300 Index rose 0.65 percent and 0.62 percent in the month respectively. However, the CSI 1000 Index ended the month down 1.90 percent. In the Shanghai market, the SSE 380 index and the over big-cap index led the market with a gain of 1.04 and 0.15 percent respectively.
Among them, the CSI 300 Index experienced a sideway in December after hitting a nearly two-year high in November last year. The trend kept its average daily turnover to a relatively low level. The average daily turnover of the CSI 300 Index for the month was 130.530 billion yuan, down 30.76 percent from the previous month.
As for sectors, the performance of first-tier industries is mixed. The major consumption index was the leading winner, with a gain of 11.89 percent. Pharmaceuticals and optional consumer goods surged over 3 percent. Information technology and industrials also recorded a rise in the month. The rest indexes showed a downward trend. Utilities and financial real estate dropped 3.82 percent and 2.17 percent respectively during the month.
As for the price-earnings ratio, as of the end of December, the rolling PE ratio of the CSI 300 Index was 15.35, slightly up from the previous month. Among them, that of the major consumption index ranked top with 43.17, up from the previous month. The valuation of the financial real estate sector was the lowest, with the rolling PE ratio at 9.34.
In the CSI 300 Index, the weights of the top three industries at the end of the month: financial real estate, industrials and alternative consumer goods were 38.55, 13.67 and 11.78 percent, respectively. The weights of the former two dropped from those in November, and the weights of alternative consumer goods rose. Telecom and energy sectors have low weights at 2.42 and 2.31 percent, respectively.
Among the themed sector indexes in December, the CSI 300 consumption and the CSI liquor index led the gain with a rise of 11.89 and 10.93 percent, respectively. On the other hand, more than 200 themed industry indexes closed down, with the SSE Securities the leading loser, down 9.03 percent. However, most of the style indexes closed up in December. Among them, the 380 value index led the again with 2.09 percent gain. The 500 value, 300 growth and all growth indexes all rose more than 1 percent.
Translated by Coral Zhong
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