The ChiNext Index fell by 2%, while the power sector rose against the trend. CPO and computing hardware sectors corrected, the Hang Seng Tech Index surged then pulled back, and semiconductors plunged.
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A-share and Hong Kong AI computing power concept stocks collectively underwent an adjustment, dragging down the ChiNext and Hang Seng Tech Index. Overnight, US tech stocks came under pressure, with chip indices falling nearly 2.5%, memory stocks Seagate Technology closing down nearly 7%, and Micron down nearly 6%.
On May 19, A-shares fluctuated and fell in the early session, with the three major indices all opening lower; the Shenzhen Component Index fell more than 1%, the ChiNext fell 2%. Power stocks surged again, green power concept stocks rose, computing hardware stocks generally fell, and optical modules, optical communication, and optical circuit switches all adjusted.
Hong Kong stocks diverged in their trend: the Hang Seng Index fluctuated and moved higher, the Hang Seng Tech Index rose and then fell, most tech stocks rose, Alibaba, Tencent, NetEase, and Baidu all moved higher, while semiconductors collectively declined, with Hua Hong Semiconductor and SMIC falling the most.
In the bond market, government bond futures collectively rose. In commodities, domestic futures diverged, container shipping index rose nearly 2%, and lithium carbonate fell more than 4%. Core market trends:
A-shares: As of publication, the Shanghai Composite fell 0.25%, the Shenzhen Component Index fell 1.38%, and the ChiNext Index fell 1.89%.
Hong Kong stocks: As of publication, the Hang Seng Index rose 0.38%, and the Hang Seng Tech Index fell 0.18%.
Bonds: Government bond futures fluctuated upwards. As of publication, the main 30-year contract was up 0.12%, the main 10-year contract was up 0.08%, the main 5-year contract was up 0.05%, and the main 2-year contract was up 0.01%.
Commodities: Domestic commodity futures diverged. As of publication, soybean meal, shipping index, and eggs rose more than 1%, Shanghai silver, Shanghai aluminum, rapeseed, platinum, Shanghai gold, crude oil, rubber, Shanghai copper and others rose; industrial silicon, manganese silicon, asphalt, polysilicon, hot rolled coil, caustic soda, rebar, stainless steel, iron ore, coking coal, alumina, fuel oil, glass all fell, and lithium carbonate plunged more than 4%.
10:16
CPO concept stocks collectively slumped; Liantech Technology fell more than 10%, Laser Technology, Lianxin Instruments, Dekeli, Tianfu Communication, Changxin Bochuang, and Taichen Guang all dropped more than 7%.
10:08
Hong Kong storage concept stocks collectively declined; Southern 2x Long SK Hynix fell more than 12%, Southern 2x Long Samsung Electronics fell more than 11%, Montage Technology fell more than 7%, and GigaDevice fell more than 5%.
09:56
The semiconductor materials sector fluctuated and adjusted during trading; China Ship Special Gas fell more than 10%, Saiying Electronics, Xingfu Electronics, Tianyue Advanced, Xiandao Jidian, and Kema Technology led the declines.
09:44
MLCC concept stocks repeatedly strengthened; Fenghua Advanced Tech hit the limit up, Yunzhong Technology rose more than 10%, Guoci Materials, Sanhuan Group, and Dalicap followed the gains.
CITIC Securities research report points out that as AI server power continues to increase, the quantity and quality requirements for chip inductors and capacitors serving GPUs and TPUs have risen sharply. Based on projected GPU/TPU shipments in 2027 and 2028, the chip inductor and capacitor industry will see explosive growth.
09:40
Computing power leasing concept stocks continued to be strong; Hongxin Electronics and Jiahuan Technology hit two consecutive limit-ups, Nongshang Environment, Nanwei Software, Dongfang Guoxin, Zhongbei Communication followed the gains.
On the news side, Hongxin Electronics' subsidiary Suihong Huachuang Token Factory global headquarters recently officially settled in Wuxi High-Tech Zone and deployed Jiangsu's first batch of Huawei Ascend 384 supernode clusters.
09:38
Green power concept stocks surged in the early session, Huaneng Mengdian hit the limit up, Tuori New Energy, Jingneng Power, Huaguang Ring Energy, Datang Power Generation, and Jiantou Energy followed with gains.
On the news side, according to China Electric Power News, on May 14, China's large data center participated in electricity spot trading as a virtual power plant for the first time, realizing "computing follows electricity", a domestic first.
09:26
The Shanghai Composite opened down 0.21%, ChiNext Index down 0.53%. Computing hardware and semiconductor industry chain moved lower, memory and CPO led the decline; e-commerce, lithium mining, commercial aerospace, space solar themes also led the losses. Brain-computer interface, AgileRobot, smart logistics, and AI application concept stocks strengthened.
09:21
Hang Seng Index opened up 0.07%, Hang Seng Tech Index down 0.14%. Tencent Music rose more than 3%, NetEase and Bilibili rose more than 2%; XPeng Group fell more than 2%, JD Group and SMIC led the declines.
09:01
Domestic commodity futures opened mixed. Precious metals led gains, Shanghai silver up 1.50%. Most agricultural products rose, eggs up 1.38%. Most oils and oilseeds rose, Soybean No.2 up 1.30%. Most base metals rose, Shanghai tin up 1.05%. Energy products led declines, low-sulfur fuel oil down 1.63%. Most chemical products fell, ethylene glycol down 1.42%. All ferrous products fell, ferrosilicon down 1.40%. All new energy materials fell, lithium carbonate down 0.68%. All non-metallic building materials fell, glass down 0.39%. All shipping futures fell, container shipping index (Europe line) down 0.21%.
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