The Shanghai Composite Index fluctuated higher, with innovative pharmaceuticals and automobiles rising intraday, commercial aerospace active, the Hang Seng TECH Index surged then fell back, and tech internet stocks diverged.

The Shanghai Composite Index fluctuated higher, with innovative pharmaceuticals and automobiles rising intraday, commercial aerospace active, the Hang Seng TECH Index surged then fell back, and tech internet stocks diverged.

March 31, A-shares fluctuated and rose, the Shanghai Composite Index further climbed in early trading, while the ChiNext Index rebounded after opening lower. Automobile manufacturing, innovative pharmaceuticals and other sectors surged, and commercial spaceflight, satellite navigation concept stocks were active. Hong Kong stocks soared in early trading but then pulled back; both the Hang Seng Index and Hang Seng Tech Index narrowed their gains, with the Hang Seng Tech Index once up 1%, and internet technology stocks diverged. In the bond market, most government bond futures fluctuated upward. In commodities, domestic commodity futures fell broadly, with only Shanghai silver and Shanghai gold metal futures bucking the trend and rising. Core market trends: **A-shares**: As of press time, the Shanghai Composite Index rose 0.45%, the Shenzhen Component Index rose 0.11%, and the ChiNext Index fell 0.41%. **Hong Kong Stocks**: As of press time, the Hang Seng Index rose 0.15%, and the Hang Seng Tech Index rose 0.24%. **Bond Market**: Government bond futures fluctuated upwards. As of press time, the main 30-year contract rose 0.02%, the main 10-year contract rose 0.04%, the main 5-year contract rose 0.02%, and the main 2-year contract fell 0.01%. **Commodities**: Most domestic commodity futures fell. As of press time, Shanghai silver and Shanghai gold bucked the trend and rose. Platinum, palladium, Shanghai tin, Shanghai aluminum, and Shanghai copper metal futures climbed. Egg, hot rolled coil, rebar, Shanghai nickel, iron ore, polysilicon, rubber, manganese silicon, soybean meal, pulp, stainless steel and other products declined. Industrial silicon, asphalt, glass fell over 1%, caustic soda, alumina, lithium carbonate, coke fell over 2%, crude oil, fuel oil fell 3%, coking coal dropped 4%, container shipping index slumped over 6%. **10:12** The ChiNext Index turned positive after previously falling more than 1%. **09:47** The automobile manufacturing sector strengthened, with buses leading the gains. Yutong Bus and Shuguang Co. both hit the daily limit. Zhongtong Bus, King Long Motor, Jiangling Motors, and Ankai Bus were among the top gainers. **09:42** Fujian local stocks remained active. Pingtan Development had three daily limit boards in five days. Mindong Power hit the daily limit, Minfa Aluminum had two consecutive boards, Haixia Innovation rose over 8%. Xiamen Port, Xiamen Airport, Fujian Cement, Zhongmin Energy, and Road & Bridge Info followed the gains. **09:37** High-speed railway and rail transit concepts became active again in early trading. CRRC Zhuzhou Railway had two consecutive boards. Golden Eagle Heavy Industry, Jiaoda Railway Development, Jinye Industrial, Titan Technology, Jiaoda Sino, and CRRC followed the gains. In terms of news, CCTV Finance reported that at the Yangtze River estuary, the key project of the “15th Five-Year Plan”—the along-the-Yangtze high-speed railway—is under accelerated construction. The railway will extend from Shanghai to Chengdu, linking the Yangtze River Delta, the Yangtze River Midstream, and Chengdu-Chongqing urban clusters, stretching about 2,000 kilometers. Total investment exceeds 500 billion yuan. **09:34** The commercial spaceflight concept continued its strong momentum. Shenjian Co. achieved four consecutive boards. Shunhao Co., Shaoyang Hydraulic, Zhongheng Design, Jujili Sling, and Chaojie Co. followed the gains. **09:33** Innovative pharmaceuticals remained active. Jinyang Pharmaceutical had three consecutive boards. Kelai Ying, Joinn New Drug, Pharmaron, Hightech Biotech, and Norsgaard followed the gains. **09:26** The Shanghai Composite Index opened up 0.02%, the ChiNext Index fell 0.8%. Technology stocks saw overall adjustment; CPO, memory, lithium battery, semiconductor, photovoltaic, AI computing power, and wind power concept stocks weakened. Consumer stocks rallied, with liquor, food, home appliances, and duty-free store sectors among the top gainers. **09:21** Hang Seng Index opened up 0.27%, Hang Seng Tech Index rose 0.08%. Midea Group climbed over 4%, NIO and Kuaishou were among the top gainers. SMIC and Hua Hong Semiconductor were among the top decliners. Risk Warning and Disclaimer The market carries risks; investment requires caution. This article does not constitute individual investment advice and does not take into account specific investment targets, financial situation, or needs of individual users. Users should consider whether any opinions, viewpoints, or conclusions in this article are appropriate to their particular circumstances. Any investment based on this article is at your own risk.