AH shares rise together: STAR 50 surges another 3%, storage chips and semiconductors soar across the board, Hang Seng Tech Index gains over 2%, tech stocks rebound collectively
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A-shares and Hong Kong stocks' storage chip and semiconductor industry chains have exploded again, driving the Growth Enterprise Market (GEM) and STAR 50 Index to continue to surge. Previously, a WallstreetCN article stated that Apple was reportedly lobbying the US government, seeking approval to purchase memory chips from Changxin Memory Technologies. Analyst Ming-Chi Kuo pointed out that the real driving force is not cost reduction, but that the global memory supply gap will continue to widen until 2027.
On June 29, after a weak opening in the morning session, A-shares fluctuated and rose, with the three major indexes collectively rallying at the start; GEM surged over 1%, STAR 50 Index soared over 3%, chips and semiconductors exploded, and semiconductor wafers, materials, and equipment rose across the board. Brokerages, chemical sectors were active, while shipping and ports adjusted.
Hong Kong stocks opened higher and continued to climb. The Hang Seng TECH Index quickly expanded its gains in early trading, currently up over 2%. Weighted tech stocks rebounded, with Meituan, Alibaba, and JD.com all rising. Chips and semiconductors were also up sharply, with Hua Hong Semiconductor and GigaDevice among the top gainers. In the bond market, government bond futures rose across the board. In commodities, most domestic futures went up. Key market movements:
A-shares: As of press time, the Shanghai Composite Index is down 0.32%, the Shenzhen Component Index down 0.26%, and the GEM Index down 0.24%.
Hong Kong stocks: As of press time, the Hang Seng Index is up 0.77%, and the Hang Seng TECH Index is up 2.45%.
Bonds: Government bond futures rose across the board. As of press time, the main 30-year contract is up 0.25%, the 10-year contract up 0.12%, the 5-year contract up 0.07%, and the 2-year contract up 0.02%.
Commodities: Domestic commodity futures mostly rose. As of press time, coking coal, palladium, and platinum are up over 2%; Shanghai silver, coke, and Shanghai gold are up about 1%. Shanghai tin, asphalt, rapeseed, Shanghai copper, iron ore, Shanghai aluminum, fuel oil, container shipping index, alumina, Shanghai nickel, glass, polysilicon, manganese silicon, stainless steel, soybean meal, hot rolled coil, and others are all up. Pulp, lithium carbonate, rubber, and eggs are down. Crude oil and caustic soda are down more than 1%.
09:45
The glass substrate concept repeatedly strengthened, Rainbow Group and Kaisheng Technology hit the daily upper limit. Previously, Kibing Group hit the limit; Dir Laser, Dinglong Co., Wufang Optoelectronics, and Leyman Optoelectronics followed up.
09:43
The storage chip concept remained active, Space-Time Technology hit the daily limit and reached a historic high. GigaDevice, Dagang Co., Beijing Junzheng, and Puran Co. followed up.
On the news front, a senior semiconductor analyst at BofA Securities said that the memory industry is undergoing a fundamental structural transformation driven by artificial intelligence. The latest quarterly results from Micron Technology indicate that the capacity needed to manufacture AI-optimized memory chips is three to four times that required for traditional computing products.
09:39
The CPO concept rebounded in the morning, with Huagong Technology reversing and hitting the daily limit. Optical Library Technology, Lianxun Instruments, Cambridge Technology, and Huamao Technology followed up.
On the news front, the Ministry of Industry and Information Technology officially released the "White Paper on the Development of the High-Speed Optical Module Industry." In addition, CCTV Finance reported that since the beginning of this year, related products involving computing power have accelerated exports. In Wuhan, the optical module production line also operates 24 hours non-stop. With the global construction of computing power infrastructure accelerating, this company’s exports of optical modules above 800G have grown more than 100-fold year-on-year since the beginning of the year.
09:35
The MLCC concept remained active, Jiemai Technology hit the daily limit and reached a historical high. Sanhuan Group and Shangluo Electronics rose nearly 10%. Torch Electronics, Guoci Materials, Lihesheng, and Fenghua High-tech were among the top gainers.
09:35
The STAR Composite Index rose over 1%, semiconductor index surged again, Galaxy Microelectronics hit the daily limit at 20cm, Western Superconductor rose over 18%, and many stocks including Yongxiu Electronics rose over 10%.
9:31
The Hang Seng Tech Index’s intraday gains expanded to 2%.
09:26
The Shanghai Composite Index opened down 0.01%, and the GEM Index was up 0.15%. Lithium mines, high-speed copper connections, humanoid robots, CPO, AI computing power, and photovoltaic concept stocks weakened; semiconductor wafers, advanced packaging, memory, nuclear fusion, and glass substrate concept stocks strengthened.
09:21
The Hang Seng Index opened up 0.69%, Hang Seng Tech Index up 1.6%. Horizon Robotics up over 5%, NetEase, Trip.com Group, and Baidu Group up over 4%, Meituan and JD Group up over 3%.
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