The three major A-share indexes fluctuated upwards, with shipping and non-ferrous metals rising, computing hardware generally declining, and Hong Kong tech stocks collectively rebounding.
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The phosphorus chemical sector continued its strong performance from yesterday. Previously, the United States announced the inclusion of elemental phosphorus and key herbicides such as glyphosate as critical defense materials. The nonferrous metals sector saw many stocks rise. During the Spring Festival holiday, overseas nonferrous metals performed strongly overall, with prices of LME tin, nickel, copper, etc. generally rising.
On February 25, A-shares fluctuated upwards in early trading, with the three major indexes rising slightly. Sectors such as chemicals, oil & gas, and shipping continued their upward trend, while real estate stocks showed notable gains. Shares in computing hardware mostly fell, leading declines in areas such as memory, optical communication, and CPO. Hong Kong stocks maintained gains after opening higher; the Hang Seng Index and the Hang Seng Tech Index rose. Most technology internet stocks rebounded, but large AI model stocks plunged, with Zhipu dropping over 7% and MINIMAX plummeting over 16%.
In the bond market, most government bond futures fell. In commodities, most domestic futures rose. Lithium carbonate surged over 5%. Core market movements:
A-shares: As of press time, the Shanghai Composite Index rose 0.54%, the Shenzhen Component Index rose 0.49%, and the ChiNext Index rose 0.05%.
Hong Kong stocks: As of press time, the Hang Seng Index rose 0.37%, and the Hang Seng Tech Index rose 0.58%.
Bonds: Most government bond futures fell. As of press time, the main 30-year contract rose 0.02%, the 10-year contract rose 0.01%, the 5-year contract fell 0.01%, and the 2-year contract fell 0.02%.
Commodities: Most domestic futures rose. As of press time, lithium carbonate rose over 5%, platinum and palladium rose over 4%, Shanghai tin rose more than 3%, rubber rose 2%, and Shanghai nickel, Shanghai silver, coking coal, soybean meal, glass, and stainless steel rose 1%. Pulp, coke, iron ore, rebar, and Shanghai copper also moved higher.
10:02
Hong Kong large AI model concept stocks widened their losses, MINIMAX-WP dropped over 15%, and Zhipu fell over 8%.
09:43
The shipping sector continued its strong trend. China Merchants Energy Shipping hit the upper price limit again, marking 3 board surges in 4 days and setting a new historical high. COSCO Shipping Energy, China Merchants Nanyou hit the upper price limit, Antong Holdings jumped nearly 7%, and COSCO Shipping Specialised, Haitong Development, and Ningbo Ocean rose in tandem.
09:39
The nonferrous metals sector strengthened at the opening. Yunnan Germanium, China Nonferrous Metals hit the price limit. Zhangyuan Tungsten, Tin Industry, Northern Rare Earth, Huaxi Nonferrous, and Shenghe Resources followed up with gains.
09:34
The movie theater sector continued to decline. Bona Film and Hengdian Film both hit the lower limit for the second day; China Film, Enlight Media, and Happiness Blue Ocean followed with losses.
09:30
The phosphorus chemical sector continued its gains. Chengxing Industrial hit the daily upper limit for the second time; multiple stocks such as Hebang Biotech, Kingenta, Liuguo Chemical, Hengguang Co., Chuanjinnuo opened higher.
09:26
The Shanghai Composite Index opened 0.15% higher, and the ChiNext Index rose 0.15%.
The oil & gas, shipping, chemical, and nonferrous metal sectors strengthened again. Superconducting materials, PEEK materials, high-speed copper connection concept stocks were active. Superhard materials, memory, photovoltaics, AI applications, Unitree Robotics, and departure tax rebate themes weakened.
09:21
The Hang Seng Index opened 0.58% higher at 26,745.20 points; the Hang Seng Tech Index rose 0.86%. XPeng rose over 2%, Hua Hong Semiconductor, and SMIC rose over 1%.
09:16
The central parity of the RMB against the US dollar was 6.9321, up by 93 basis points; previous day's central parity was 6.9414, hitting a new high since May 11, 2023; previous day's official closing price was 6.8849; previous night session closing price was 6.8812.
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