On October 16, A-shares opened broadly higher in early trading, with all three major stock indices rising collectively at the open. The ChiNext Index pared gains, while defense, commercial aerospace, and innovative drugs surged. Automobile, agriculture, and real estate sectors moved higher, with JAC Motors hitting the daily limit. This followed the Ministry of Industry and Information Technology and two other departments forming a joint investigation team to verify online reports regarding a "broken brake pedal bracket on the Zunjie V800 vehicle." Additionally, AI hardware rebounded, with optical modules and optical communications concept stocks rising, while circuit boards and copper-clad laminates fell into correction.
Hong Kong stocks opened higher and extended gains, with the Hang Seng Index and Hang Seng Tech Index both rising over 1% in early trading. Weighted tech stocks surged collectively, with Alibaba, JD.com, Tencent, NetEase, and Baidu leading gains. The biotechnology index soared over 3%, with innovative drugs rallying strongly. AI large model stocks, optical modules, and semiconductor chips also rebounded. In the bond market, treasury bond futures rebounded collectively. In commodities, most domestic commodity futures rose. Core market movements:
A-shares: As of press time, the Shanghai Composite Index rose 0.49%, the Shenzhen Component Index rose 0.65%, and the ChiNext Index rose 0.51%.
Hong Kong stocks: As of press time, the Hang Seng Index rose 1.31%, and the Hang Seng Tech Index rose 2.19%.
Bond market: Treasury bond futures rebounded across the board. As of press time, the 30-year main contract rose 0.04%, the 10-year main contract rose 0.04%, the 5-year main contract rose 0.05%, and the 2-year main contract rose 0.02%.
Commodities: Most domestic commodity futures moved higher. As of press time, palladium, Shanghai silver, rubber, and industrial silicon rose over 1%, while Shanghai tin, Shanghai gold, glass, platinum, container shipping index, polysilicon, Shanghai aluminum, iron ore, rebar, hot-rolled coils, alumina, crude oil, and eggs all moved higher. Pulp, stainless steel, Shanghai copper, asphalt, coke, and rapeseed declined, while soybean meal, fuel oil, lithium carbonate, manganese silicon, coking coal, and Shanghai nickel fell over 1%.
10:23
Changxin Technology and Montage Technology both rose over 5%, supporting the storage sector, with GigaDevice and Biwin Storage following suit.
10:08
The ChiNext Index turned negative, having risen nearly 1.8% at the open. PCB and lithium battery sectors led declines. Tianfu Communication fell nearly 4%, while Victory Giant Technology, Eoptolink Technology, Lens Technology, and Changchuan Technology weakened.
09:43
The defense sector showed strong momentum, with Chenxi Aviation and Great Wall Military Industry hitting the daily limit first, while Shengnan Technology, ComNav Technology, Tongyi Aerospace, and North Long Dragon surged.
09:37
A-share and Hong Kong innovative drug sectors rose in sync again, with the Hang Seng Biotechnology Index up over 3%. WuXi AppTec, Asymchem, and Joinn Laboratories all gained. The U.S. pharmaceutical sector is very strong, with AbbVie and Eli Lilly approaching historic highs, a clear signal that investors are turning to defensive assets amid turbulence in AI concept stocks.
09:35
In early trading, the auto整车 sector rebounded with volatility, as JAC Motors hit the daily limit, while BAIC BluePark, Seres, Ankai Bus, Haima Automobile, and SAIC Motor followed higher. On the news front, regarding online reports of a "broken brake pedal bracket on the Zunjie V800 vehicle," the Ministry of Industry and Information Technology and two other departments formed a joint investigation team to conduct verification and handle the matter in accordance with laws and regulations. Relevant information will be released in a timely manner.
The AI pharmaceutical concept was active in early trading. Hongbo Pharmaceutical hit the 20cm daily limit, while Jiankai Technology, Boji Pharmaceutical, ACROBiosystems, Chengdu HitGen, PharmaBlock Sciences, and Norson led gains. On the news front, on October 15, AstraZeneca signed an AI drug discovery agreement worth $1.86 billion with Insitro, aimed at helping find new drugs for liver and heart diseases.
09:33
The Hang Seng Tech Index rose over 2%, with MINIMAX up over 6%, Kuaishou up over 5%, and Tencent, Bilibili, and Horizon Robotics up over 4%.
09:26
The Shanghai Composite Index opened 0.44% higher, and the ChiNext Index rose 1.75%. AI hardware rebounded, while coal, oil and gas, and shipping sectors corrected. Zhongji Innolight opened nearly 3% higher, as the company plans to change the use of A-shares repurchased in September 2026 and cancel them all.
09:21
The Hang Seng Index opened 1.08% higher, and the Hang Seng Tech Index rose 1.59%. Cambridge Technology, Zhongji Innolight, Longsys, YOFG Optical Fiber and Cable, and BeiGene strengthened.
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