The Shanghai Composite Index rose slightly, oil and chemical sectors surged again, the Hang Seng Tech Index climbed then fell back, tech stocks corrected, and crude oil futures soared by 16%.
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A-share oil, gas, chemical and other sectors surged again due to ongoing geopolitical conflicts and disruptions in the Strait of Hormuz, with market concerns over interrupted energy supplies remaining high.
On March 12, A-shares fluctuated and fell, the Shanghai Index rebounded slightly in the morning, the ChiNext board opened high but fell low, dropping nearly 1% at one point. Oil, gas, chemical, coal sectors surged again, power stocks were active. Hong Kong stocks also fluctuated and fell, with most tech stocks declining. In the bond market, government bond futures generally rebounded and rose. In commodities, domestic commodity futures mostly rose, with crude oil, fuel oil, and container shipping index rising more than 10%. Core market trends:
A-shares: As of press time, the Shanghai Index is up 0.13%, Shenzhen Component Index is down 0.26%, and ChiNext Index is down 0.55%.
Hong Kong stocks: As of press time, Hang Seng Index is down 0.59%, Hang Seng Tech Index is down 0.25%.
Bonds: Government bond futures fell across the board, as of press time, the main 30-year contract is up 0.04%, the 10-year, 5-year, and 2-year main contracts are flat.
Commodities: Domestic commodity futures broadly rose, as of press time, crude oil futures up 16%, fuel oil up nearly 15%, container shipping index and caustic soda up over 10%, asphalt, glass, coking coal, etc., up over 4%, coke, alumina, rapeseed, rubber, industrial silicon, iron ore, pulp, soybean meal, manganese silicon, Shanghai aluminum up over 1%.
10:06
The main contract of low-sulfur fuel oil futures surged nearly 20%, crude oil up over 14%, and fuel oil up over 13% on the domestic market.
09:34
MicroLED concept surged rapidly, HC SemiTek up over 13%, Jufei Optoelectronics, Sanan Optoelectronics, Leyard Optoelectronics, Nationstar Optoelectronics, Refond Optoelectronics followed.
According to TrendForce's latest survey, with the rise of generative AI, the demand for high-speed transmissions in data centers continues to grow. The unit transmission energy consumption of Micro LED CPO solutions is low, greatly reducing overall energy consumption to 5% of copper cable solutions, potentially making it a promising optical interconnect alternative because of its energy-saving advantages.
09:30
The computing power leasing concept was active in the morning. Hongjing Technology rose over 10%, hit a new historical high, and State Grid Information & Communication, Cloudwalk Technology, Black Horse Venture, Meiliyun, Qunxing Toys, Digital China followed.
On the news side, Tencent Cloud announced that from March 13 it will adjust the pricing for some models of its intelligent development platform (Tencent Cloud ADP), with price increases generally exceeding 400%.
09:28
The chemical sector remained active, Sanfangxiang hit the daily limit, Jinniu Chemical, Zhongyan Chemical, Jinpu Titanium, Tongkun Group, Zhongtai Chemical, Yida Shares opened higher.
On the news side, on the evening of March 11, chemical futures continued to rise. Para-xylene futures hit the daily limit, up 13%; PTA main contract also hit daily limit, up 13.01%; bottle-grade PET main contract hit daily limit, up 12%; PVC up nearly 9%, ethylene glycol up more than 7%.
09:26
The Shanghai Index opened down 0.01%, ChiNext up 0.22%. Rare metals, industrial mother machines, high-speed copper connection, superconducting, liquid-cooled server, short drama game concept weakened; chemical stocks surged again, oil and gas stocks active in parts.
09:21
Hang Seng Index opened down 0.69%, Hang Seng Tech Index down 0.6%. Most tech stocks fell; Tencent Music down nearly 4%, Bilibili down over 2%, Alibaba, NIO, Kuaishou among the leaders in decline.
09:01
Commodity futures opened; para-xylene, PTA, bottle-grade PET main contracts hit daily limits, LU fuel oil up over 14%, crude oil up over 13%, short staple fiber up over 11%, pure benzene, ethylene glycol up over 10%, container shipping Europe line, styrene up over 9%. Shanghai silver down over 3%.
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