A-shares' three major indexes fluctuated downward, storage chips surged, Hang Seng Index and Hang Seng Tech Index both fell more than 1%, while semiconductors rose against the trend.
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A-shares and Hong Kong stocks in the storage chip and semiconductor industry chains collectively surged. Previously, domestic storage chip giant ChangXin Technology predicted that net profit attributable to shareholders in the first half of the year would be 50-57 billion yuan, a significant year-on-year increase of 2244.03%-2544.19%.
On May 18, A-shares opened lower in early trading then rallied; all three major indices briefly turned positive at the start, then fluctuated downward. Storage chips, HBM, advanced packaging, GPU and other concept stocks surged collectively, with Gigadevice hitting the daily limit. The automobile and precious metals sectors adjusted.
Hong Kong stocks opened lower and fell, with both the Hang Seng Index and the Hang Seng TECH Index dropping over 1% at the start. Semiconductor stocks rose against the trend, with Hua Hong Semiconductor up more than 4%.
In the bond market, government bond futures fell across the board. In commodities, most domestic commodity futures declined, while crude oil and fuel oil strengthened against the trend. Metal futures such as Shanghai silver and Shanghai tin led the declines. Core market performance:
A-shares: As of press time, the Shanghai Index fell 0.28%, the Shenzhen Component Index fell 0.22%, and the ChiNext Index fell 0.45%.
Hong Kong stocks: As of press time, the Hang Seng Index fell 1.63%, the Hang Seng TECH Index fell 2.33%.
Bond market: Government bond futures fell across the board. As of press time, the main 30-year contract fell 0.37%, the main 10-year contract fell 0.08%, the main 5-year contract fell 0.04%, and the main 2-year contract fell 0.02%.
Commodities: Domestic commodity futures mostly fell. As of press time, crude oil and fuel oil surged more than 4% against the trend, container shipping index rose 2%, asphalt, manganese silicon, and lithium carbonate rose more than 1%. Methanol, rubber, coking coal, propylene and others rose. Most varieties like ethylene glycol, jatane, hot-rolled coil, soybean meal, iron ore, rebar, pulp and others declined. Shanghai nickel, alumina, stainless steel, eggs, Shanghai aluminum, polysilicon, eggs, Shanghai aluminum, palladium, Shanghai copper, Shanghai gold, platinum, Shanghai tin and others led the declines. Shanghai silver fell more than 9%.
10:27
Commercial space concept stocks surged. Xinwei Communication soared over 15%, Suochen Technology, Haige Communication, Parker New Material, Dongfang Tantalum and others hit the daily limit. Western Materials, Tongyu Communication, Hollevo, Zhonghuan Hailu and others led the gains.
10:14
The Hang Seng TECH Index fell more than 2%, with Li Auto down over 11% and Leapmotor down nearly 10%.
09:58
Oil and gas concept stocks performed actively. Guizhou Gas hit the daily limit, followed by Tongyuan Petroleum, Taishan Petroleum, Keli Co., Shouhua Gas, and China Oil Engineering.
On the news side, the main crude oil contract on the Shanghai Futures Exchange surged 7%, quoted at 686.7 yuan/barrel.
09:51
CPO concept stocks remained active. Huagong Technology reversed and hit the daily limit, Lianxun Instruments rose over 9%, hitting a new historical high. Huilv Ecology, Guangxun Technology, Anfu Technology, and Shenke Da also followed up.
On the news side, on May 16, the National Information Optoelectronics Innovation Center, based on self-developed ultra-wideband photonic chip technology, developed the world's first 170GHz ultra-wideband device product, which has been applied in domestically produced optoelectronic measurement equipment.
09:47
Power grid equipment stocks surged against the trend in early trading. Wangbian Electric rallied and hit the daily limit, Xinfengguang rose over 10%, Jinpan Technology, Changgou Electric New, Shuangjie Electric and Sifang Co. all followed the uptrend.
On the news side, driven by a 350% surge in Token demand, capital expenditure forecasts for hyperscalers in 2026 have been drastically revised upward from $450 billion to $800 billion. Morgan Stanley predicts a 55GW power shortage in data centers.
09:45
Gigadevice, Baiwei Storage, and Dapu Micro-UW soared simultaneously. Domestic storage chip giant ChangXin Technology expects net profit attributable to shareholders in the first half to be 50-57 billion yuan, a significant year-on-year increase of 2244.03%-2544.19%.
Storage chip concept leader Gigadevice hit the daily limit intraday, the stock price continued at a historical high, transaction amount exceeded 13 billion, and the total A+H-share market value broke through 290 billion.
09:33
Hang Seng Index's intraday decline expanded to 1%, Hang Seng TECH Index fell 1.6%. Leapmotor and Li Auto each fell over 8%.
09:26
Shanghai Composite Index opened down 0.37%, ChiNext Index opened down 0.87%. Lithium mining, metals, building materials, and shipping sectors adjusted. China Telecom opened up more than 2%.
09:21
Hang Seng Index opened down 0.48%, Hang Seng TECH Index fell 0.88%. Li Auto fell more than 4%, Leapmotor fell more than 3%, JD.com and Kuaishou fell more than 2%.
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