The ChiNext Index fell by over 1%, computing hardware stocks collectively adjusted, rare earth stocks surged, the Hang Seng Tech Index rebounded, and biotech stocks were active.
```
Computing hardware stocks collectively adjusted, with Nvidia plunging overnight. Its share price dropped by 5.7% during trading, marking the largest intraday decline in three months. Wallstreetcn reported that although Nvidia's latest quarterly revenue increased by 73% year-over-year, and its Q1 forecast surpassed market expectations, the company's outlook failed to ease investors' concerns over the sustainability of AI spending.
On February 27, A-shares fluctuated lower, with all three major indices down and the ChiNext Index falling over 1%. Computing hardware stocks corrected, with CPO, PCB and other sectors leading the decline, mainly impacted by Nvidia’s drop overnight. Nonferrous metals and rare earths sectors surged, continuing to be driven by price increases.
Hong Kong stocks rebounded, with both the Hang Seng Index and the Hang Seng Tech Index rising. Most tech stocks rallied, the biotech index surged, and WuXi Biologics jumped over 4%. In the bond market, most government bond futures rose. In commodities, domestic futures fell broadly; alumina dropped over 3%, while coking coal, coke, and others declined. Core market movements:
A-shares: As of press time, the Shanghai Composite is up 0.13%, the Shenzhen Component Index down 0.36%, and the ChiNext Index down 1.13%.
Hong Kong stocks: As of press time, the Hang Seng Index is up 0.57% and the Hang Seng Tech Index is up 0.51%.
Bond Market: Government bond futures fluctuated higher. As of press time, the main 30-year contract rose 0.02%; the main 10-year contract was flat; the main 5-year contract rose 0.01%; the main 2-year contract rose 0.01%.
Commodities: Domestic commodity futures broadly fell. As of press time, alumina fell more than 3%; coking coal, lithium carbonate, polysilicon dropped over 2%; fuel oil, industrial silicon, coke, Shanghai nickel, stainless steel, pulp, caustic soda fell over 1%; Shanghai silver, rubber, Shanghai aluminum, hot rolled coil and others declined.
09:52
The rare earth permanent magnet sector strengthened. Baotou Steel reached the daily limit; China Rare Earth, Earth Panda, Shenghe Resources, Northern Rare Earth, Galaxy Magnets, and Tianhe Magnets followed with gains.
On the news, the price of metallic praseodymium-neodymium rose by 40,000 yuan/ton to 1.08 million yuan/ton, and praseodymium-neodymium oxide rose by 5,000 yuan/ton to 882,500 yuan/ton.
09:36
In early trading, space photovoltaic concept stocks rebounded. Junda shares hit the daily limit; Jiawei New Energy, Juhe Materials, Eging PV, Risen Energy, and Dike shares rose in tandem.
On the news, GF Securities stated that AI giants are fiercely competing, and “computing power takes off” has become a consensus. Driven by this consensus, space photovoltaics, as a main source of energy supply, are expected to benefit deeply. It is estimated this could potentially open up a hundred-billion-yuan-level market for photovoltaic equipment in the future.
09:29
Computing power concept stocks adjusted at the open. Tefa Information neared the daily lower limit; Yangtze Optical Fibre, Tianfu Communication, Guangku Technology, Changxin Boxin, Robotec, and Dekeli all opened lower.
09:26
The Shanghai Composite Index opened down 0.43%, ChiNext fell 1.23%, with optical modules, fiberglass, and optical communication sectors among the biggest decliners.
09:21
The Hang Seng Index opened up 0.25%, Hang Seng Tech Index opened up 0.15%. WuXi Biologics rose nearly 5% leading blue chips, while Baidu Group fell over 1%.
09:01
Commodity futures opened. The main Shanghai tin contract rose more than 2%. Alumina fell more than 3%. PVC, lithium carbonate, palladium, Shanghai silver and plastics all fell more than 2%.
Risk Warning and DisclaimerThe market has risks; investors need to be cautious. This article does not constitute personal investment advice, nor does it take into account the individual user’s special investment objectives, financial status, or needs. Users should consider whether any opinions, viewpoints or conclusions in this article are suited to their particular situation. Any investment made accordingly is at your own risk. ```