July 16 A-share market close: RMB 23 billion fled semiconductors, but institutions analyze it this way

Index Performance: Broad Sell-Off, Shanghai Composite Loses the 3900 Level

On July 16, the A-share market drifted lower throughout the session, with all major indices closing in negative territory:

• Shanghai Composite Index: 3882.41 points, –1.85%

• Shenzhen Component Index: 14488.65 points, –1.97%

• ChiNext Index: 3692.46 points, –2.95%

• STAR Composite Index: 2110.36 points, –3.43%

Combined turnover across the three exchanges came in at roughly ¥2.42 trillion, shrinking by about ¥167.6 billion from the prior session. In the broader market, 2,861 stocks declined while 2,499 advanced; 48 stocks hit their daily limit-up, and 38 hit their daily limit-down.

Leading Sectors: Film & Media and Pharma Surge Against the Trend

Film & TV / Media Was the Strongest Theme Today

• The media sector closed up 2.09%, ranking first among all Shenwan Level-1 industries.

• Ruyi Films hit its daily limit-up for a second straight session; Shanghai Film and Huanrui Century also locked in limit-up.

• News catalysts: Total China box office in 2026 (including pre-sales) has already topped ¥19 billion, with the summer season alone surpassing ¥3.3 billion. Over 100 films have locked in summer release slots, led by Kung Fu Women’s Football which has generated more than ¥800 million in ticket sales.

Pharma and Innovative Drugs Remained Highly Active

• Harbin Pharmaceutical (Hayao) surged to its daily limit-up for five consecutive sessions, while Hainan Haiyao did so for two; Borui Pharma jumped over 19%.

• News catalysts: Total out-licensing deal value for Chinese innovative drugs in the first half of the year reached approximately $110 billion, already hitting 80% of the full-year 2025 total—marking a fresh all-time high.