Chinese Stocks Show Mixed Performance with Tech Sector Under Pressure, While Coal and Power Shares Surge

On May 25th, A-shares exhibited a divergent trend in the morning session. The Shanghai Composite Index and the Shenzhen Component Index registered slight gains, while the ChiNext Index opened higher but subsequently turned lower, falling by nearly 1%. The coal and power sectors saw significant surges, and the semiconductor industry chain remained active. Cambricon Technologies Corporation Limited saw its stock price soar by over 11% at one point, hitting a new historical high with a market capitalization exceeding 900 billion yuan. In the bond market, most treasury futures contracts declined. In commodities, the majority of domestic futures prices rose, with coking coal and coke futures hitting their daily limit-up. The Hong Kong market was closed for a holiday. Core market movements:

A-shares: As of the latest update, the Shanghai Composite Index was up 0.30%, the Shenzhen Component Index was down 0.29%, and the ChiNext Index was down 0.81%.

Hong Kong stocks: Market closed. Bond market: Most treasury futures contracts were lower. As of the latest update, the 30-year benchmark contract was up 0.19%, the 10-year contract was down 0.03%, the 5-year contract was down 0.05%, and the 2-year contract was down 0.02%.

Commodities: Domestic commodity futures were broadly higher as of the latest update.

09:56 The battery industry chain experienced a volatile adjustment. Tianji Interconnection hit the daily limit-down. Peng Hui Energy, Tinci Materials, Guocheng Mining, Hunan Yonergy, Longpan Technology, Enjie Co., Ltd., Defang Nano were among the top decliners. Contemporary Amperex Technology, Weilan Lithium, Sinoboom, and Huasheng Lithium also saw declines.

The baijiu (white spirits) sector saw a sudden intraday surge. Jin Hui Jiu's stock price jumped straight to the daily limit-up, marking its second limit-up in four trading days. Zhongrui Shares, Yingjia Gongjiu, Huangtai Wine Industry, Jinzhongzi Jiu, and Luzhou Laojiao followed with gains.

09:55 Coal stocks surged with multiple stocks hitting their daily limit-up. Panjiang Co., Ltd., Huaibei Mining, Shanghai Energy, and Pingdingshan Tianan Coal Mining successively reached the limit-up.

09:44 Cambricon Technologies Corporation Limited rose over 11%, with its stock price refreshing its historical high. Its total market capitalization exceeded 900 billion yuan.

09:41 The semiconductor industry chain saw a sharp vertical rise. Dosilicon, Bright Power Semiconductor, Chipown Micro-electronics surged over 15%. NCE Power and Yihua Connections, among others, hit the daily limit-up.

09:38 The power sector remained active repeatedly. Jingneng Thermal Power marked its sixth limit-up in nine trading days. Jingneng Thermal Power, Huadian Liaoneng, SDIC Green Energy, YUNENG Holdings, and Jinneng Holding Power followed with increases.

09:26 The Shanghai Composite Index opened 0.33% higher, and the ChiNext Index opened 0.93% higher. PCB concept stocks continued their strength. Coal, precious metals, industrial metals, consumer electronics, commercial aerospace, and AI application sectors led the gains. Semiconductor equipment, industrial gases, and CPO themes were weaker.

09:01 Commodity futures opened with coke and coking coal main contracts hitting their daily limit-up. Shanghai silver and industrial silicon rose over 3%. Crude oil fell over 5%, with LU fuel oil and fuel oil down over 4%, LPG down over 3%, and the Europe route container shipping index down over 2%.