On November 3, A-shares opened lower and moved down, with the three major indices widening their declines in early trading. The Shanghai Composite fell 1%, ChiNext dropped 2%, and the STAR 50 Index briefly fell nearly 3%, before the declines narrowed, with the Shenzhen Component Index turning positive first. Computing hardware stocks collectively corrected, with optical communications, optical modules, optical chips, GPUs, circuit boards, and copper-clad laminates all declining across the board. Oil and gas and shipping sectors dropped due to the overnight plunge in international oil prices. AI short dramas, liquor, defense, and precious metals sectors strengthened.
Hong Kong stocks fluctuated upward, with the Hang Seng Index briefly turning negative in early trading before oscillating higher. The Hang Seng Tech Index dipped at the open before pulling up, with most heavyweight internet stocks rebounding. Optical modules, memory chips, and other tech stocks fell, with GigaDevice and Montage Technology among the biggest decliners. AI large model stocks also corrected. In the bond market, treasury futures collectively rebounded. In commodities, most domestic commodity futures declined, with fuel oil and crude oil among the biggest losers. Core market movements:
A-shares: As of press time, the Shanghai Composite fell 1.03%, the Shenzhen Component rose 0.12%, and the ChiNext Index fell 0.36%.
Hong Kong stocks: As of press time, the Hang Seng Index fell 0.40%, and the Hang Seng Tech Index rose 1.34%.
Bond market: Treasury futures rose across the board. As of press time, the 30-year main contract rose 0.24%, the 10-year main contract rose 0.06%, the 5-year main contract rose 0.03%, and the 2-year main contract was flat.
Commodities: Most domestic commodity futures declined. As of press time, Shanghai silver and stainless steel rose 2%, caustic soda, platinum, and Shanghai gold rose 1%. A few varieties including Shanghai nickel, glass, eggs, Shanghai copper, rubber, and alumina edged higher. Hot-rolled coils, Shanghai tin, industrial silicon, rebar, coking coal, rapeseed, manganese silicon, iron ore, coke, Shanghai aluminum, wood pulp, lithium carbonate, and soybean meal declined. Polysilicon and palladium fell over 1%, the container shipping index dropped over 3%, asphalt fell nearly 6%, and fuel oil and crude oil plunged over 7%.
09:55
The ChiNext Index turned positive, led by CATL, Mindray Medical, AVIC Chengdu Aircraft, and Sungrow Power Supply.
09:48
The banking sector declined in early trading, with Bank of Shanghai falling over 4%, Industrial and Commercial Bank of China, Bank of China, and Bank of Communications falling over 3%, and Bank of Chongqing, China Merchants Bank, Postal Savings Bank, China Construction Bank, and Agricultural Bank of China all falling over 2%.
09:49
The battery supply chain rebounded rapidly, with Yema Battery and Zizhu Hi-Tech both hitting the daily limit, Lingpai Technology rising over 10%, and Boliwei, Zhuhai CosMX, and CATL following suit. Power battery and solid-state battery concept stocks surged: in early trading, solid-state battery concept stocks fluctuated upward, with Mengguli rising over 10%, and Lianying Laser, Haibosi Chuang, Boliwei, Liwang Shares, and Wuhan Landian following suit.
09:45
The defense sector was active, with AVIC Chengdu Aircraft rising nearly 10%, and Chenxi Aviation, Guoke Military Industry, AECC Aviation Power, and North Long Dragon following suit.
Liquor concept stocks were repeatedly active, with Huangtai Liquor hitting its third consecutive daily limit, and Golden Seed Liquor, Swellfun, Tianyoude Liquor, and Kouzi Liquor following suit.
AI comic drama concept stocks strengthened repeatedly, with Dasheng Culture, Zhewen Pictures, and Electronic Soul Network posting two consecutive daily limits, Haikan Shares opening 13% higher, Huashi Technology rising over 8% to a record high, and Decai Shares, Zhangyue Technology, and H&R Century following suit.
09:37
The ChiNext Index fell over 2%, the Shanghai Composite and Shenzhen Component both fell over 1%, and the STAR 50 dropped nearly 3%. Computing hardware, semiconductor chips, pharmaceutical biology, and oil and gas led the declines, with nearly 4,000 stocks falling across the Shanghai, Shenzhen, and Beijing markets.
09:36
Zhongji Innolight and Tianfu Communication both fell around 7%, with the optical communications sector under clear pressure. On the news front, Marvell plans to acquire Lumentum for $115 billion, accelerating optoelectronic integration.
09:26
The Shanghai Composite Index opened 0.37% lower, and the ChiNext Index fell 1.18%. Shipping, oil and gas, and optical communications sectors corrected. Gold, cement, brokerages, insurance, and liquor sectors strengthened.
09:21
The Hang Seng Index opened 0.33% higher, and the Hang Seng Tech Index rose 0.36%. Gold stocks rebounded, with Shandong Gold rising over 2%. Oil stocks fell broadly, with PetroChina falling nearly 3%.
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