The Shanghai Composite Index fluctuated upward, "Meta concept stocks" surged, the gold and silver sectors saw widespread limit-ups, the Hang Seng Index rose over 1% to a nearly five-year high, and tech internet stocks rebounded.

The Shanghai Composite Index fluctuated upward, "Meta concept stocks" surged, the gold and silver sectors saw widespread limit-ups, the Hang Seng Index rose over 1% to a nearly five-year high, and tech internet stocks rebounded.

Driven by factors such as Corning, the pioneer of optical communications and traditional glass manufacturer, winning a major order from Meta, and the price increase in memory chips, A-share CPOs, memory, and other computing hardware stocks surged significantly. As the US dollar fell to a four-year low and geopolitical tensions continued, international gold prices soared again and the precious metals sector in A-shares continued to erupt.

On January 28, A-shares showed divergence in the morning session. The Shanghai Composite Index rose slightly, while the Shenzhen Component Index and the ChiNext Index opened higher but then fell, turning downward. CPOs, memory, and semiconductor chip stocks in computing hardware rallied. The precious metals sector continued to perform strongly.

Hong Kong stocks showed strong momentum. The Hang Seng Index rose more than 1% in the morning session, reaching a new high since 2021. The Hang Seng Tech Index fluctuated higher, most tech stocks rebounded, and semiconductor and non-ferrous metal sectors were active.

In the bond market, government bond futures rose amid fluctuations. For commodities, domestic commodity futures were mixed: Shanghai gold rose over 2%, while lithium carbonate fell over 2%. Key market trends:

A-shares: As of publication, the Shanghai Composite Index was up 0.29%, the Shenzhen Component Index down 0.19%, and the ChiNext Index down 0.24%.



Hong Kong stocks: As of publication, the Hang Seng Index was up 1.08%, and the Hang Seng Tech Index up 0.54%.



Bonds: Government bond futures rose amid fluctuations. As of publication, the leading 30-year contract rose 0.07%, the 10-year main contract was flat, the 5-year main contract rose 0.01%, and the 2-year main contract fell 0.01%.



Commodities: Domestic commodity futures showed mixed movement. As of publication, the container shipping index was up nearly 5%; asphalt, Shanghai gold were up over 2%; fuel oil, alumina, Shanghai silver, Shanghai aluminum, and Shanghai tin were up over 1%; rubber, soybean meal, rapeseed, and caustic soda saw modest increases. Manganese silicon, pulp, platinum, hot-rolled coil, rebar, industrial silicon, glass, iron ore, eggs, Shanghai copper, polysilicon and others declined. Coking coal, coke, palladium, stainless steel fell over 1%; lithium carbonate, Shanghai nickel fell over 2%.

10:10

The precious metals sector continues to explode, with many gold stocks hitting daily up limits. Zhaojin Gold, Sichuan Gold, Western Gold, and others all hit limit up.

The non-ferrous metals sector also saw a strong boom, with Baiyin Nonferrous, Yuguang Gold & Lead, and others reaching daily up limit.

As for news, as geopolitical tensions persist and uncertainty over Trump’s tariff policies intensifies—driving a rush of funds into gold as a safe haven—the continued decline of the US dollar index provides further support for gold. International gold prices have strongly broken through the $5,200 level.

According to a WallstreetCN article, investor concerns over the unpredictability of US policy are growing. The US dollar fell to its lowest level against major currencies in four years. However, US President Trump is unconcerned. He said on Tuesday that the dollar is doing well and he is not worried about the dollar’s decline, predicting exchange rates will fluctuate.

10:01

The Hang Seng Index expanded its gains to 1.2%, marking a new high since 2021.

09:36

A-share semiconductor chip stocks continued to strengthen. Qipai Technology, ACM Research, Nationalchip Technology rose over 10%, Fuman Micro, Mingwei Electronics, JieJie Microelectronics, Naxin Micro, Shengbang Co., and other stocks rose over 7%.

09:31

CPO and other computing hardware stocks opened strongly. YOFC hit limit up at open, Taichen Optoelectronics rose over 14%, Changxin Bochuan, Hengtong Optoelectronics, Zhongtian Technology, FiberHome Telecom, and others led the gains.

In news, on January 27, Corning CEO Wendell Weeks said that Meta has committed to pay Corning up to $6 billion by 2030 for optical fiber cable purchases for its AI data centers. To meet the growing demand from Meta, NVidia, OpenAI, Google, Amazon, Microsoft, and other giants, Corning is expanding this plant.

09:26

The Shanghai Composite Index opened up 0.25%, and the ChiNext Index rose 0.51%. The precious metals sector continued to strengthen, with China Gold and Hunan Gold hitting limit up; computing hardware themes were active, with advanced packaging and CPO leading the gains; the photovoltaic industry chain pulled back.

09:12

The Hang Seng Index opened up 0.73%, and the Hang Seng Tech Index rose 0.56%. Miming Busy debuted with an 88% increase on its first day of listing. JD, Kingsoft Software, BYD, Lenovo were up over 1%, HSBC Holdings and Zijin Mining up over 2%.

09:16

The RMB central parity rate against the US dollar was reported at 6.9755, an increase of 103 points—the largest margin since August—reaching its strongest level since May 17, 2023. Previous session’s central parity rate: 6.9858; previous official closing: 6.9576; previous night close: 6.9545.

 

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