How should we view the A-share market performance on September 23, 2026?

【Answer 1】 Trading volume suddenly shrank by ¥370 billion; the A-share market entered a 'pre-holiday mode,' and multiple high-flying stocks plunged to their daily lower limits. By: Xiao Ruidong, Staff Reporter | Edited by: Zhao Yun On September 23, the market fluctuated and adjusted throughout the day, with the ChiNext Index and the Shenzhen Component Index opening higher but closing lower. By market close, the Shanghai Composite Index fell 0.39%, the Shenzhen Component Index declined 0.64%, and the ChiNext Index dropped 0.6%. Sector-wise, the PCB (printed circuit board) concept gained strength, while CRO (contract research organization) and quantum technology-related stocks performed actively. Real estate stocks showed divergence. On the downside, media and film & television sectors experienced volatile adjustments. More than 3,500 A-share stocks declined across the market. Trading volume notably contracted: the combined turnover of the Shanghai and Shenzhen stock exchanges totaled ¥1.76 trillion—¥370.6 billion less than the previous trading day. As markets will be closed this Friday for the National Day holiday, today (Wednesday) became this week’s de facto 'cash-out day' for the A-share market. The 'pre-holiday effect' is now becoming evident. By market close, total market turnover stood at ¥1.7831 trillion—down over ¥370 billion from the prior day. All three major indices ended in the red, and declining stocks significantly outnumbered gainers. This suggests that some capital indeed exited the market preemptively on Tuesday—not merely a joke or internet meme. In our Monday post-market review, we noted that over the past five years, four years saw pre-National Day volume contraction, sometimes around 10%, occasionally exceeding 20%. Based on the average daily turnover over the past 20 trading days (August 26 to September 22)—¥1.93 trillion—a roughly 10% pre-holiday contraction would bring turnover down to approximately ¥1.74 trillion. Today’s ¥1.78 trillion falls squarely within this projected range—perhaps signaling the official onset of the 'pre-holiday volume contraction.' This sharp drop in liquidity impacted today’s market in at least two ways: First, high-flying, momentum-driven stocks collectively retreated. For instance, newly listed stock C-Zhongsu—which surged 683% yesterday—reversed sharply today, plunging 34.53%. Among stocks hitting their daily lower limit or falling ≥10%, many were multi-day consecutive gainers or had hit new highs just yesterday—including Wuzhou Medical, Huamei Holding, Sanyangma, Mindong Electric Power, and Xinhua Pharmaceutical. With active funds scarce, these short-term or intraday high-volatility stocks struggled to absorb selling pressure, forcing downward price movement. Second, large-cap stocks—though not recently strong performers—also saw pronounced volume contraction due to their reliance on liquidity. For example, Zhongji Xun Chuang, frequently ranked #1 in daily turnover across the entire market, recorded only ¥13.68 billion in turnover today—sharply down from ¥22.337 billion on Tuesday.

Stock market analysis for September 23, 2026

【Answer 2】 Post-Market Review: The Main Board opened higher, traded with volatility, and closed with a bearish candle—but still above its opening level. Will it continue rising tomorrow? On September 22, the market rose initially then retreated, with all three major indices sliding collectively in the final session—even though the ChiNext Index had earlier risen over 2%. By market close, the Shanghai Composite Index edged up 0.06%, the Shenzhen Component Index dipped 0.05%, and the ChiNext Index rose 0.01%. Total turnover across the Shanghai and Shenzhen exchanges reached ¥2.14 trillion—¥104 billion higher than the previous trading day. Sector-wise, media & culture, telecom services, cloud gaming, AI applications, short-video games, and IT services led gains; port & shipping, tourism & hotels, wind power equipment, high-speed copper cable connectors, lab-grown diamonds, and MLCC-related stocks were top decliners. Summary: The Main Board opened higher, traded with volatility, and closed above its opening price. What kind of market trend awaits in 2026? Last week, we forecast an upward move for this week—and yesterday’s prediction proved correct. Today’s market rose as expected; we anticipate continued gains tomorrow. Overall, however, more stocks declined than rose today: over 3,000 A-shares fell, while 63 stocks hit their daily upper limit and 5 hit their lower limit. Trading Summary: Net loss today. 1. Taiji Industrial: exited at a loss; Honghe Technology: profit from intra-day trading, though entry was premature—resulting in substantially reduced gains; StarNet Ruijie: intra-day trade incurred a loss.

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