The ChiNext Index rose over 1%, with rare earth and lithium stocks surging. The newly crowned "stock king" SourceJet Technology hit another record high. The Hang Seng Tech Index climbed 1%, and tech internet stocks collectively rebounded.

April 29, A-shares fluctuated and rose, with all three major stock indexes collectively moving higher at the opening. Concept stocks such as pork, rare earths, and machinery industry surged, while coal, real estate, and petrochemical sectors were active. Hong Kong stocks opened high and moved higher in the morning session, with the Hang Seng Index and Hang Seng Tech Index rising more than 1% at one point. Tech stocks rebounded across the board, and new consumer concept stocks were active. In the bond market, government bond futures fluctuated downward. In the commodity market, most domestic commodity futures rose, with crude oil and polysilicon among the top gainers. Core market trends: A-shares: As of press time, the Shanghai Composite Index rose 0.12%, the Shenzhen Component Index rose 0.96%, and the ChiNext Index rose 1.20%. Hong Kong stocks: As of press time, the Hang Seng Index rose 1.16%, and the Hang Seng Tech Index rose 1.04%. Bond market: Government bond futures diverged. As of press time, the main 30-year contract fell 0.15%, the main 10-year contract fell 0.01%, the main 5-year contract rose 0.01%, and the main 2-year contract was unchanged. Commodities: Most domestic commodity futures rose. As of press time, fuel oil rose 2%. Polysilicon, Shanghai nickel, crude oil, and bitumen all rose over 1%. Industrial silicon, soybean meal, methanol, container shipping index, coking coal, and coke moved higher. Manganese silicon, Shanghai copper, pulp, and Shanghai aluminum fell, Shanghai silver lost over 3%. 10:45 The newly crowned “king stock” of A-shares, Yuanjie Technology, surged more than 5% during trading, quoted at 1,525.54 yuan/share, marking a new record high. Its total market value exceeded 130 billion yuan, with transaction volume over 3 billion yuan. 10:36 ChiNext Index rose over 1%, Shanghai Composite Index rose 0.05%, Shenzhen Component Index rose 0.79%. Pork, food, real estate, rare earth permanent magnets and other sectors led the gains. Nearly 3,800 stocks rose in the Shanghai, Shenzhen, and Beijing markets. 10:23 Rare earth permanent magnet concept stocks exploded, with Northern Rare Earth hitting the limit-up. China Rare Earth, Zhongxi Nonferrous, Shenghe Resources and others moved higher. 10:07 Banking sector strengthened, with Qingdao Bank hitting limit-up. Changsha Bank, Jiangyin Bank, Qingnong Commercial Bank, and Changshu Bank followed with gains. On the news side, Qingdao Bank issued an announcement: In Q1 2026, the company achieved a net profit of 1.524 billion yuan attributed to shareholders of the parent company, an increase of 266 million yuan year-on-year, up 21.16%. 10:04 Lithium mining concepts continued to strengthen. Yongshan Lithium rose for two consecutive days. Tibet Summit nearly hit limit-up. Tibet Urban Investment, Yongxing Materials, Tianhua New Energy, and Ya Hua Group led the gains. In the news: In the past week, battery-grade lithium carbonate prices cumulatively rose 3,500 yuan/ton, an increase of 2.03%. In the past month, battery-grade lithium carbonate prices cumulatively rose 20,000 yuan/ton, an increase of 12.82%. Previously, IGO sharply lowered its Greenbushes lithium concentrate production guidance for fiscal year 2026 from 1.5-1.65 million tons to 1.375-1.425 million tons, with a mid-value decrease of 11%. On April 29, Ministry of Natural Resources released China’s latest mineral resource inventory. China ranks first globally in reserves of 14 minerals: rare earth, tungsten, tin, molybdenum, antimony, gallium, germanium, indium, fluorite, graphite, etc. By 2025, China’s outputs of 17 minerals, including coal, vanadium, titanium, zinc, rare earths, tungsten, tin, molybdenum, antimony, gallium, indium, gold, tellurium, etc., will rank first in the world. Currently, China’s mining production and smelting processing scale firmly lead globally. In 2025, total national mining output value will be about 32.7 trillion yuan, accounting for over 23% of GDP. The sharp growth in resource reserves lays a solid foundation for resource autonomy and control. 09:56 Pork concept stocks collectively rebounded in the morning session. Jin Xinnong hit limit-up, and Zhengbang Technology, Juxing Agriculture, Shennong Group, Tianbang Foods, and Tangrenshen followed. 09:51 Pop Mart rose nearly 3%. In the news, Pop Mart announced the official launch of Pop Mart LABUBU refrigerator sales on April 30. Prior to launch, related products already sold out on secondhand platforms, with prices reaching as high as 92,300 yuan. 09:46 Innovative drug concepts were active: Guangshengtang rose over 10%. Yatai Group hit limit-up, and Lianhuan Pharma, Kangzhi Pharma, Tibet Pharma, Yifang Bio, Yue Wannianqing, and Shutai Shen followed. In the news: The 2026 Annual Meeting of the American Society of Clinical Oncology (ASCO) will be held in Chicago from May 29 to June 2. The number of Chinese innovative pharma companies selected for this year’s conference set a new record — 12 Chinese companies with 13 studies selected for plenary sessions and late-breaking abstracts. 09:41 The PCB industry chain maintained its strong momentum in the morning session. Glass fiber and copper foil led the gains. Shandong Glass Fiber rose for the second time in three days. Tongguan Copper Foil and Honghe Technology rose over 6%, hitting new historical highs. Dongcai Technology, Defu Technology, and Changhai Shares followed. In the news: On April 28, Kingboard Laminates, the industry leader in copper clad laminates, issued a formal price increase notice, stating that current high copper prices and tight glass cloth supply have sharply raised copper clad laminate (CCL) costs. The company will increase prices of FR-4 CCL and PP prepreg by 10% effective immediately. 09:26 The Shanghai Composite Index opened down 0.41%, and the ChiNext Index dropped 0.51%. CPO and PCB, as computing power hardware industry chains, led the declines. Photovoltaics, semiconductors, consumer electronics, commercial space, AI applications, and fintech concept stocks led the losses. 09:21 Hang Seng Index opened up 0.63%. Hang Seng Tech Index rose 1.07%. JD Health, NIO jumped over 4%. Li Auto rose over 3%. Bilibili, Alibaba Health, and NetEase rose over 2%. 09:01 Commodity futures opened. BR rubber, PET bottle chips, and para-xylene main contracts rose over 2%. Shanghai nickel, pure benzene, styrene, plastics, and ethylene glycol rose over 1%. Shanghai silver fell over 2%. Shanghai gold, platinum, glass, international copper, and Shanghai copper fell over 1%. Risk warning and disclaimer Market risks exist, investment needs to be prudent. This article does not constitute personal investment advice and does not take into account individual users’ specific investment objectives, financial status, or needs. Users should consider whether any opinion, viewpoint, or conclusion in this article fits their specific situation. Invest accordingly at your own risk.