The Shanghai Composite Index edged down slightly, AI applications triggered a surge in daily limit gains, real estate rose strongly, the Hang Seng Index turned higher, tech internet stocks adjusted, and Shanghai gold and silver soared.

The Shanghai Composite Index edged down slightly, AI applications triggered a surge in daily limit gains, real estate rose strongly, the Hang Seng Index turned higher, tech internet stocks adjusted, and Shanghai gold and silver soared.

Recently, Moonshadow officially released its trillion-parameter MoE model Kimi K2.5. Coupled with DeepSeek's open-source OCR 2, AI application stocks rebounded across the board, with iFlytek and other stocks reaching their daily limit. According to reports, several real estate companies are no longer required by regulators to submit monthly "three red lines" related data, and the real estate sector was active in early trading.

On January 29, A-shares showed mixed performance. The Shanghai Index edged down in early trading, while the Growth Enterprise Index rose on volatility. The AI application concept stocks surged dramatically, and liquor, real estate, healthcare and other sectors strengthened during the session. Hong Kong stocks fell, with both the Hang Seng Index and Hang Seng Tech Index declining. Mainland property stocks rose, while non-ferrous metals, semiconductors and other sectors adjusted collectively.

In the bond market, government bond futures rose across the board. The 30-year government bond futures contract increased by 0.3%. In commodities, domestic commodity futures saw widespread gains, with Shanghai gold soaring over 7%. Key market trends:

A-shares: As of publication, the Shanghai Index fell 0.18%, the Shenzhen Component Index rose 0.05%, and the Growth Enterprise Market Index rose 0.43%.



Hong Kong Stocks: As of publication, the Hang Seng Index rose 0.11%, Hang Seng Tech Index fell 0.30%.



Bonds: Government bond futures rose across the board. As of publication, the main 30-year contract rose 0.32%, 10-year contract up 0.12%, 5-year contract up 0.06%, 2-year contract up 0.01%.



Commodities: Domestic commodity futures broadly rose. As of publication, Shanghai gold surged over 7%, Shanghai silver up 5%, fuel oil and asphalt up over 2%, rubber, alumina, manganese silicon, coke, coking coal, Shanghai aluminum rose over 1%. Shanghai copper, soybean meal, iron ore, glass, container shipping index, rebar, platinum, pulp, rapeseed, palladium, hot rolled coil, caustic soda, industrial silicon, eggs, stainless steel also moved higher. Shanghai nickel fell, Shanghai tin dropped over 1%, polysilicon and lithium carbonate down more than 2%.

10:27

The real estate sector in both A-shares and Hong Kong stocks strengthened during the session, with Zhujiang Holdings, Joy City, Shen Shen Fang A, Sanxiang Impression hitting their daily limit.

In Hong Kong stocks, Sunac China rose over 21%, China Aoyuan, Kaisa Group, Country Garden, CIFI Holdings, and Shimao Group all climbed more than 10%.

10:15

The AI application sector expanded its rally. Over 10 stocks including Xinhuanet, People’s Daily Online, Inly Media Group, Gravity Media, Guangdong Media, iFlytek, Zhejiang Wenxin Internet hit their daily limit, while Liujin Technology, Joyeasy Information, Tianlong Group, BlueFocus, Yidian World all rose more than 10%.

09:41

Partial anomalies in the AI application sector, Tiandi Online reached its daily limit for the fifth time in nine days, Huamedia Holdings rebounded and hit its daily limit, Inly Media Group, iFlytek, Zhejiang Wenxin Internet, BlueFocus, Hithink RoyalFlush Information also followed with gains.

According to reports, Kimi’s K2.5 model released by Moonshadow on January 27 rose to the top of multiple global rankings within a day of launch. On the authoritative LMarena list, Kimi K2.5 is only behind closed-source models like Claude opus 4.5 and Gemini 3 Pro, ranking first among open-source models.

09:36

The non-ferrous sector strengthened again, with Ecycle Resources, Chang Aluminum achieving two consecutive daily limits. Dingsheng New Materials hit its daily limit, while Zinc Industry, Tongling Nonferrous Metals approached their daily limit. Zhuzhou Smelter Group, Pengxin Resources, and others were among top gainers.

09:32

Oil and gas stocks continued to strengthen, with Tongyuan Petroleum rising over 10%. Sinopec Oilfield Service touched its daily limit. Zhunyou, Zhongman Petroleum, Keli, Offshore Oil Development, and other stocks led the gains.

09:30

The Hang Seng Tech Index's early decline expanded to 1.2%.

09:26

The Shanghai Index opened higher by 0.11%, Growth Enterprise Market Index fell 0.03%. The precious metals sector continued to strengthen, with multiple stocks such as Sichuan Gold, Hunan Gold, Western Gold hitting their daily limits. Oil and gas and basic metals sectors rose again. AI applications, computing hardware, photovoltaics, and commercial aerospace concept stocks saw a pullback.

09:21

The Hang Seng Index opened low by 0.72%, Hang Seng Tech Index fell 0.79%. Tech stocks broadly fell, NIO down over 3%, JD.com down over 2%, XPeng, Trip.com Group, Alibaba and others also declined.

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