The ChiNext Index fell nearly 1% in early trading, AI applications and CPOs collectively adjusted, the Hang Seng Tech Index rose 1%, and "AI large model stock" Zhipu surged 10% to a new high.
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A-share PCB concept stocks surged in early trading, with many stocks hitting the daily limit. Short drama games and film theater sectors fell at the opening, with Hengdian Films and Jinyi Films hitting the limit down during trading. Recently, Seedance2.0 has triggered widespread evaluation and discussion in the AI industry.
On February 11, A-shares fluctuated and fell, all three major indices were down, the Growth Enterprise Market Index dropped 1% in early trading, computing power hardware stocks adjusted, CPO sector saw the largest decline, AI applications collectively moved lower, non-ferrous metals sector rallied. Hong Kong stocks fluctuated higher, HSTECH rose 1%, most tech stocks rose, AI large model stock Zhipu surged again, reaching a new historical high, chips and semiconductors fell.
In the bond market, government bond futures rose across the board. As for commodities, domestic commodity futures were mixed, lithium carbonate up nearly 4%, coking coal and coke continued to fall. Core market trends:
A-shares: As of press time, the Shanghai Composite Index was flat, Shenzhen Component Index down 0.16%, Growth Enterprise Market Index down 0.81%.
Hong Kong stocks: As of press time, the Hang Seng Index was up 0.35%, HSTECH up 1.18%.
Bond market: Government bond futures rebounded across the board. As of press time, the main contract for 30-year bonds up 0.20%, 10-year up 0.10%, 5-year up 0.07%, 2-year remained flat.
Commodities: Domestic commodity futures mostly rose. As of press time, container freight index and alumina fell by more than 1%, glass, coke, polysilicon, industrial silicon, caustic soda, Shanghai copper, Shanghai silver, asphalt, coking coal and others fell. Eggs, Shanghai aluminum, hot rolled coil, iron ore, rebar, Shanghai gold, manganese silicon, palladium, pulp, and others rose. Platinum, rapeseed, soybean meal, stainless steel, Shanghai tin, fuel oil, rubber and others rose by more than 1%; Shanghai nickel up nearly 3%; lithium carbonate up nearly 4%.
10:18
Zhipu's gains once exceeded 10%, and its stock price reached a historic high.
According to a WallstreetCN article, JP Morgan points out that China's AI industry is moving from the "hundred-model battle" stage to a stage where commercial landing capability, model innovation strength, and global layout are key to success. China's AI market is rapidly consolidating, "the number of capable and well-funded model developers has shrunk from over 200 to less than 10."
“The largest profit pool of the domestic AI industry may flow to platform giants that control distribution; as for independent firms, their breakthrough depends on who can find a niche for survival through 'structural neutrality' — Zhipu is digging deep into highly compliant local deployments, while MiniMax is expanding to high-margin global markets.”
10:10
A-share PCB concept sector surged strongly, International Composite Materials hit the daily limit at "20cm", Jin'an Guoji, Honghe Technology, Sinoma Technology, China Jushi, Shandong Fiberglass all hit the daily limit, with Changhai Co., Ltd., Lite Optoelectronics and other stocks following with gains.
10:07
The Growth Enterprise Market Index fell by more than 1%, key computing power hardware stocks Zhongji Xuchuang and Xinyisheng both fell more than 5%. Media, computing power hardware, semiconductors and other sector indices were among the largest decliners. More than 2,200 stocks fell across the Shanghai, Shenzhen, and Beijing stock exchanges.
09:44
Glass fiber concept stocks surged to the daily limit, Sinoma Technology, Rising Technology, Shandong Fiberglass, China Jushi, and other stocks hit the daily limit.
09:26
The Shanghai Composite Index opened down 0.1%, the Growth Enterprise Market Index down 0.24%. CPO, space photovoltaics, AI computing power, deep-sea technology, consumer electronics, semiconductor concept stocks adjusted; AI application themes were locally active.
09:21
The Hang Seng Index opened up 0.23%, the Hang Seng Tech Index up 0.21%. Tencent Music and WuXi Biologics rose more than 3%, SenseTime and New Oriental rose more than 2%; SMIC fell more than 2%.
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