The Shanghai Composite Index fluctuated and rose, innovative drugs surged, AI applications rallied across the board, the Hang Seng Tech Index rose 2% intraday, and most tech stocks rebounded.
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On July 10th, A-shares fluctuated upwards. The three major stock indexes collectively rose at the opening. Innovative drugs and CROs surged, AI applications rallied across the board, and the chip and semiconductor industry chain was active intraday. Concept stocks such as semiconductor wafers, HBM, advanced packaging, and memory chips strengthened collectively, while brokerages, coal, and lithium mining sectors fell into correction.
Hong Kong stocks rose in early trading. Both the Hang Seng Index and Hang Seng Tech Index climbed, with the Tech Index up 1%. Most technology internet stocks rose, chips and semiconductors rallied, and SMIC and Hua Hong Semiconductor rose more than 6%. AI large model stocks were under pressure, with Zhipu and MINIMAX both down over 5%.
In the bond market, treasury bond futures fluctuated higher. As for commodities, most domestic commodity futures rose, with Shanghai gold and Shanghai silver leading the gains. Core market trends:
A-shares: As of press time, the Shanghai Composite Index was up 0.52%, the Shenzhen Component Index up 0.77%, and the ChiNext Index down 0.03%.
Hong Kong stocks: As of press time, the Hang Seng Index was up 1.43%, and the Hang Seng Tech Index up 1.94%.
Bond market: Treasury bond futures fluctuated lower. As of press time, the main 30-year contract was down 0.05%, while the main 10-year, 5-year, and 2-year contracts were flat.
Commodities: Most domestic commodity futures rose. As of press time, Shanghai silver was up 3%; polysilicon, pulp, industrial silicon, and palladium were up more than 2%; Shanghai tin, platinum, copper, gold, and eggs were up 1%. Shanghai nickel, aluminum, container shipping index, iron ore, alumina, and glass also rose, while soybean meal, rebar, hot-rolled coil, caustic soda, stainless steel, silicon manganese, and rubber fell. Asphalt, rapeseed, fuel oil, coke, and lithium carbonate fell more than 1%, and coking coal and crude oil fell more than 2%.
10:17
The Hang Seng Tech Index rose 2% intraday. SenseTime rose over 5%, Kuaishou and Horizon Robotics both climbed over 4%.
10:07
The ChiNext Index turned negative after previously rising over 1%.
10:02
The newly listed A-share stock Torrens rose rapidly at the open by nearly 1,070%. Its gain over the opening price reached 30%, triggering a temporary trading halt.
Torrens is a leading domestic integrated service provider specializing in the R&D, production, and sales of precision metal parts. It is committed to providing high-performance key process parts, process parts, structural parts, gas pipeline and system assembly products for semiconductor equipment. The company's process capabilities also cover the laser equipment field, able to supply laser cavities and cooling process parts required for high-power lasers.
09:48
Innovative drug stocks fluctuated and rebounded. Medicilon rose over 12%. Previously, Harbin Pharmaceutical hit the daily limit. Frontier Biotech, Lifang Pharma, Enos, Wanbang Pharma, Yangguang Nuohuo, Jinyao Holdings, and Kexing Pharma followed with gains.
In terms of news, in the first half of 2026, China's innovative drug out-licensing (BD) transactions reached nearly $100 billion, at $99.7 billion, equivalent to 73% of the total for 2025's entire year of $135.7 billion.
09:46
The glass substrate concept rebounded intraday in early trading. Almaden and Yangtze New Materials hit the daily limit. Longteng Optoelectronics, Rainbow Group, Medica, and Kibin Group followed with gains.
According to news, plasma equipment manufacturer Weisheng recently stated that, benefiting from the AI boom driving the trend of advanced packaging, high-end substrate customers are in urgent need for delivery and have strong demand momentum. The company has passed validations from several major clients and has smoothly entered the strategic market for next-generation key technology—glass substrates.
09:41
The semiconductor equipment sector repeatedly strengthened. ShenkoDa hit a chain of boards with a 20cm rise. Previously, Yaxiang Integration and Xuguang Electronics were at daily limit, while Guolin Technology, Maolai Optics, MEI Tech, and Pure Tech were among the top gainers.
In related news, Micron Technology announced plans to increase its total investment in the US to over $250 billion by 2035, thanks to soaring demand for memory in the AI era. The company aims to increase US production capacity to account for 40% of its total DRAM output.
09:26
The Shanghai Composite Index opened down 0.13%, while the ChiNext Index rose 0.59%. Apple industry chain, 6G, optical chips, CPO, and memory concepts led the gains, while oil & gas, education, and coal stocks were sluggish.
09:21
The Hang Seng Index opened up 0.76%, and the Hang Seng Tech Index rose 1.25%. Tech internet and resource stocks led the gains. Lenovo Group rose nearly 9%, Baidu over 3%, and Alibaba, JD.com, and SMIC all rose over 1%. AI concept stocks corrected, with Zhipu falling nearly 9%.
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