A-shares advanced with volatility, with the Shanghai Composite Index surpassing the 4,100-point mark to set a new high since late July 2015. The ChiNext Index turned positive in the morning session after an initial drop of nearly 1%. The AI application sector showed active trading, while stocks related to the commercial aerospace concept strengthened. Hong Kong stocks edged higher, with technology and internet stocks rebounding. Large model enterprise MiniMax soared over 50% on its first day of listing. In the bond market, government bond futures declined. In commodities, domestic commodity futures experienced widespread losses, with polysilicon dropping more than 6%, while silver, copper, platinum and other metal futures moved lower. Core market movements:
A-shares: As of writing, the Shanghai Composite Index rose 0.49%, the Shenzhen Component Index gained 0.72%, and the ChiNext Index increased by 0.10%.
Hong Kong stocks: As of writing, the Hang Seng Index advanced 0.27%, while the Hang Seng Tech Index climbed 0.33%.
Bond market: Government bond futures fell across the board. As of writing, the 30-year main contract dropped 0.23%, the 10-year main contract declined 0.05%, the 5-year main contract decreased 0.07%, and the 2-year main contract slipped 0.03%.
Commodities: Domestic commodity futures saw broad-based declines. As of writing, polysilicon plunged over 9%, Shanghai nickel fell more than 4%, while alumina, coke, soda ash, Shanghai silver, industrial silicon, and caustic soda all dropped over 2%. Coking coal, BR rubber, 20号胶, ferrosilicon, and Shanghai copper declined nearly 2%. On the gainers' side, low-sulfur fuel oil rose over 3%, and SC crude oil climbed more than 2%.
At 09:42, the AI application sector remained actively traded, with Gravity Media hitting four limit-ups in five sessions. Epoint Worldwide and Kede Education surged over 10%, while Bori Media, BlueFocus, and Provincial Advertising Group led the gains.
At 09:37, the CPO concept slumped during morning trading. Sunlight Technology, Dongtian Micro, Huilv Ecological, and Hengdong Optical fell over 5%, with Zhongji Innolight, Tengjing Technology, Yuanjie Technology, and Taichen Optics following the decline.
At 09:31, the commercial aerospace concept continued its active performance. Luxin Venture Capital achieved nine limit-ups in eleven sessions, with Hangxiao Steel Structure, Juli Sling, Galaxy Electronics, and Zhongheng Design hitting the daily limit. XinKe Mobile and Shaoyang Hydraulics jumped over 10%. The positive sentiment followed the Guangzhou Municipal Government's issuance of the "Guangzhou City Plan for Accelerating the Construction of an Advanced Manufacturing Strong City (2024-2035)," which aims to establish Guangzhou as a globally influential "Sky City" and a new pole in China's commercial aerospace sector by 2035.
At 09:28, oil and gas stocks opened broadly higher. Sinopec hit the limit-up during the call auction, with Sinopec Oilfield Equipment, Taishan Petroleum, Shanghai Petrochemical, and Tongyi Co leading the gains. The movement came after the State-owned Assets Supervision and Administration Commission announced that, following State Council approval, China Petrochemical Corporation and China National Aviation Fuel Group will undergo restructuring.
At 09:21, the Hang Seng Index opened 0.47% higher, while the Hang Seng Tech Index rose 0.38%.
Most technology and internet stocks advanced, with Alibaba and JD.com gaining over 3%. Bilibili, Tencent Music, and Alibaba Health rose more than 2%. MiniMax surged over 42% on its Hong Kong market debut.
