The ChiNext Index rose 2% to a new high, with AI hardware, chips, and semiconductors surging again. The Hang Seng Index and Hang Seng Tech Index both fell by more than 1%, with most tech stocks declining.
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AI hardware, chip semiconductors and other tech stocks rose again, pushing the ChiNext index to a new historical high. Previously, Japanese and Korean stock markets also hit new highs, led by tech heavyweight stocks. SK Hynix surged 3.45% to a new historic high.
On June 18, A-shares fluctuated and strengthened, with the three major indexes rising collectively in the morning session. The ChiNext index rose more than 2% and hit a new historical high. Non-ferrous metals, AI hardware, and chip semiconductors continued to soar, with rare earth, copper, optical modules, semiconductor equipment and other concept stocks rising. Chemical, oil and gas sectors adjusted.
Hong Kong stocks remain weak, Hang Seng Index and Hang Seng Tech Index both fell more than 1%, tech internet stocks generally declined, semiconductors defied the trend and were active, Hua Hong Semiconductor rose 2%, AI big model stocks exploded again, Zhipu soared nearly 15%. In the bond market, most government bond futures rose. In commodities, domestic commodity futures fell substantially.
A-shares: As of press time, the Shanghai Composite rose 0.09%, Shenzhen Component Index up 1.03%, ChiNext Index up 1.77%.
Hong Kong Stocks: As of press time, Hang Seng Index down 1.37%, Hang Seng Tech Index down 1.36%.
Bond Market: Most government bond futures were higher. As of press time, the main 30-year contract down 0.04%, 10-year main contract up 0.04%, 5-year main contract up 0.03%, 2-year main contract up 0.02%.
Commodities: Domestic commodity futures generally fell. As of press time, only a few, including index-based products, polysilicon, and alumina, rose. Shanghai nickel, silicon manganese, Shanghai aluminum, Shanghai gold, pulp, Shanghai copper, soybean meal, eggs, rapeseed, crude oil, industrial silicon, silver, stainless steel, hot rolled coil and others all declined. Rebar, asphalt, glass, Shanghai tin, rubber, iron ore, caustic soda and others fell more than 1%. Platinum, palladium, lithium carbonate, fuel oil, coke and others fell over 2%. Coking coal plummeted over 5%.
09:55
The steel sector surged intra-session. Fushun Special Steel hit the daily limit, Shengde Xintai rose over 10%, Benxi Steel Plate, Xining Special Steel, Shagang Shares, Jiuli Special Materials followed up.
According to CCTV reports: China's shipbuilding industry is experiencing unprecedented boom, orders in core producing regions such as Nantong, Jiangsu, have been scheduled to 2030. In addition, with the explosion in auto exports, demand for ultra-thin plates required by automotive transport vessels is growing rapidly. Domestic steel companies have orders for ship steel scheduled through 2028, with total production this year expected to exceed 2 million tons.
09:47
The decline in Hong Kong stocks expanded, Hang Seng Index down 1.3%, Hang Seng Tech Index down 1.4%, Zhipu bucked the trend to rise more than 7%.
09:42
Non-ferrous and copper concepts surged in early trade. Jiangxi Copper hit the daily limit. Yunnan Copper, Northern Copper, Western Mining, Tongling Nonferrous, Luoyang Molybdenum followed up.
On the news side, Jefferies analyst Christopher LaFemina significantly raised the 2030 copper price target to $8 per pound, equivalent to $17,636 per ton, in a report to clients.
09:39
Semiconductor equipment stocks surged in early session. Jingsheng Shares hit 20cm daily limit, Yitang Shares, Hengyun Chang, Jinhai Tong, ACM Shanghai, Huaya Intelligent followed up.
09:38
ChiNext Index rose nearly 2% to a historical high. Semiconductor and computing hardware industry chains remained active.
09:26
Shanghai Composite opened 0.34% lower, ChiNext Index down 0.32%. Fiberglass, lithium ore, photovoltaics, stablecoin, commercial space, memory, semiconductor concept stocks were among the top decliners. Superhard materials, GPU, and humanoid robot themes performed strongly.
09:21
Hang Seng Index opened 0.69% lower, Hang Seng Tech Index down 0.88%. Pop Mart fell over 3%, NetEase and Zijin Mining fell over 2%, MINIMAX and Zhipu bucked the trend, rising over 3%.
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