On the afternoon of January 27, the market bottomed out and rebounded, with the three major indices collectively turning positive; the ChiNext Index at one point surged over 1%. At the close, the Shanghai Composite Index was up 0.18%, the Shenzhen Component Index rose 0.09%, and the ChiNext Index gained 0.71%. The combined turnover for the Shanghai and Shenzhen markets was 2.92 trillion yuan, a decrease of 359.2 billion yuan from the previous trading day. Across the board, more than 3,400 individual stocks declined.
From a sector perspective, the chip industry chain continued to climb, while the precious metals concept remained strong, with China Gold securing its third consecutive limit-up and Hunan Gold its second. The CPO concept was also active, with Yuanjie Technology rising over 10% to hit a new historical high, Huilv Ecological surging by the limit-up, and the space photovoltaic concept continuing its recovery. The ultra-hard materials concept also showed strength. On the downside, sectors like coal and batteries led the declines. The battery industry chain collectively slumped, with Tianji Shares and Huasheng Lithium falling over 6%.
Chip stocks led the market gains. Huatian Technology reversed to a limit-up, while Hua Hong Semiconductor saw its shares surge over 8% intraday, again setting a new record high. By the close, it was up over 7.7%, with its total market capitalization breaking through the 200 billion yuan mark. Dongxin Semiconductor and Shengke Communications hit the 20% limit-up, Kangqiang Electronics surged by the limit-up, and stocks like Mingwei Electronics, Puran Shares, Hengshuo Shares, National Technology, and Xingfu Electronics all rose over 12%.
According to market analysts, the significant surge in the share price of South Korean memory chip giant SK Hynix was one factor stimulating the strength in related A-share concept stocks. On Tuesday, SK Hynix's stock price soared nearly 8% at one point, reaching a new historical high. Two other pieces of news also provided a boost to memory chip concept stocks. First, in the first quarter of this year, Samsung Electronics raised the supply price of NAND flash memory by over 100%, far exceeding previous market expectations. Second, Micron Technology announced on Tuesday that it will invest an additional $24 billion in Singapore over the next decade to expand production capacity, addressing the memory chip shortage triggered by the artificial intelligence (AI) boom.
The space photovoltaic concept continued to recover, with Laplace rising over 18% and Zhonglai Shares gaining over 13%. Yujing Shares achieved its third limit-up in four days, Saiwu Technology its second limit-up in three days, and Tuori New Energy surged by the limit-up. Stocks like Liancheng CNC, Dike Shares, Maiwei Shares, and Jinchen Shares followed the upward trend. The news catalyst was a recent statement by Elon Musk indicating that over the next 4-5 years, SpaceX's Starship will complete the deployment of 100GW of data centers annually, launch one million tons of satellites per year, with each satellite equipped with 100kW solar arrays, corresponding to approximately 100GW of space photovoltaic capacity.
The commercial aerospace sector experienced a short-term surge, with Shenglu Communications hitting the limit-up. Sanfang Defense and Hangyu Micro rose over 10%, while Oke and Dingtong Technology were among the top gainers. The large aircraft sector continued its climb, with AECC Controls and AECC Technology surging by the limit-up. Tunan Shares rose over 10%, and stocks like Hangya Technology, AECC Power, Guojijinggong, and Feiwo Technology followed the upward trend.
In individual stock movements, Bohui Innovation saw a sudden intraday surge, turning positive and rising over 10% in just 10 minutes, with a peak gain exceeding 13%. It closed at 7.65 yuan per share. The movement followed the company's announcement that it had independently developed a Nipah virus nucleic acid detection kit. When contacted by a 21st Century Business Herald reporter posing as an investor, a company representative stated that no details regarding the development timeline, production capacity, or order status for the Nipah virus nucleic acid detection kit had been disclosed yet.
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