A-shares fluctuated higher in the morning session, the ChiNext index hit a more than four-year high, memory stocks surged, the Hang Seng Tech Index fell over 1%, tech internet stocks corrected, government bonds declined, and commodities rose.

A-shares fluctuated higher in the morning session, the ChiNext index hit a more than four-year high, memory stocks surged, the Hang Seng Tech Index fell over 1%, tech internet stocks corrected, government bonds declined, and commodities rose.

On January 7, the three major A-share stock indices rose in early trading, with the ChiNext Index hitting a stage high at the opening. Storage and non-ferrous metals surged. In Hong Kong, the Hang Seng Index and the Hang Seng Tech Index fell in early trading, with most tech stocks adjusting. In the bond market, government bond futures extended their decline. In commodities, domestic commodity futures rose across the board, with Shanghai Silver up more than 3%. Core market trends:

A Shares: As of the time of writing, the Shanghai Composite is up 0.22%, the Shenzhen Component Index is up 0.46%, and the ChiNext Index is up 0.52%.



Hong Kong Stocks: As of the time of writing, the Hang Seng Index is down 0.71% and the Hang Seng Tech Index is down 1.12%.



Bonds: Government bond futures fell across the board. As of the time of writing, the main 30-year contract is down 0.13%, the main 10-year contract is down 0.04%, the main 5-year contract is down 0.04%, and the main 2-year contract is down 0.02%.



Commodities: Domestic commodity futures generally rose. As of the time of writing, coking coal is up over 5%, glass and Shanghai silver are up over 4%, coke and stainless steel are up 3%, alumina, iron ore, caustic soda, and palladium are up over 2%, and rebar, hot coil, platinum, Shanghai aluminum, etc. are also higher.

09:50

The innovative drug concept performed actively. Bibetter hit a 20% daily limit, Chengdu Leadman and Ennovabio rose more than 13%, Yuyue Pharmaceutical, Hengrui Medicine, Joincare New Drug, Medicilon, Sunshine Nuohe, and Kelaiying followed the gains.

On the news side, in 2025, China's innovative pharmaceutical industry’s total overseas licensing transactions exceeded $130 billion, and the number of newly listed drugs reached 76, both hitting record highs.

09:37

The non-ferrous/nickel concept surged in early trading, with CNGR Advanced Material rising over 15%, GEM Co. nearing the daily limit, and Weiming Environmental Protection, Huayou Cobalt, Hanrui Cobalt, and Shengtun Mining all jumping higher.

On the news side, the main contract for Shanghai nickel briefly hit the daily limit, while the LME three-month nickel rose over 10%, reaching as high as $18,735 per ton, the highest since June 2024.

09:31

The ChiNext Index continued to strengthen, rising nearly 0.4% intraday, breaking the stage high of October 30, 2025, and setting a new high since the end of December 2021.

09:30

The storage chip concept broadly opened higher. Prolific hit a 20% limit, marking two boards in three days. Hengshuo, Xinnong Xinchuang, Capcloud, Longsys opened over 10% higher, while Time & Space Technology, Demingli, GigaDevice, Dawei Co., Beijing Junzheng, and Shenkong followed up.

On the news side, SanDisk in the US closed up over 27%, the largest single-day gain since February last year. Western Digital rose over 16%, the largest single-day gain in more than five years. Micron Technology rose over 10%, setting a new all-time high.

09:24

At the opening of commodity futures, the main contract for Shanghai nickel hit the daily limit, rising 8%. Shanghai silver and palladium rose more than 6%; platinum, lithium carbonate, and coking coal rose more than 5%; Shanghai tin, glass, stainless steel, alumina, soda ash, and coke rose more than 4%.

09:21

The Hang Seng Index opened down 0.41% at 26,601.83 points; the Hang Seng Tech Index fell 0.28%. Alibaba and Nio fell more than 2%, Baidu, Li Auto, and XPeng Motors and others fell over 1%.

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