On Wednesday, April 1st, both A-shares and Hong Kong stocks opened significantly higher, driven by signals of easing geopolitical tensions in the Middle East. Reports indicated that both the US and Iran have expressed willingness to de-escalate conflicts in the region.
A-shares opened higher across the board, with the three major indices each rising over 1% in early trading. The computing hardware sector experienced a collective surge, with circuit boards, CPO (co-packaged optics), and copper-clad laminates leading the gains. Shipping stocks were active, while power stocks continued their adjustment. The Hang Seng Index and the Hang Seng Tech Index opened 2% higher before paring some gains in the morning session; the Hang Seng Tech Index was up 1.7%. Technology and internet stocks saw a broad-based rebound, and chip and semiconductor stocks posted substantial increases.
In the bond market, government bond futures trended higher. In commodities, domestic commodity futures showed mixed performance. Metal futures such as Shanghai silver and Shanghai gold advanced, while crude oil, the containerized freight index, coking coal, and coke fell significantly.
**Key Market Movements as of Writing:**
* **A-shares:** The Shanghai Composite Index was up 1.15%, the Shenzhen Component Index rose 1.08%, and the ChiNext Index gained 0.81%. * **Hong Kong Stocks:** The Hang Seng Index increased by 2.10%, and the Hang Seng Tech Index climbed 2.19%. * **Bonds:** Government bond futures were mostly lower. The 30-year primary contract fell 0.05%, the 10-year primary contract rose 0.01%, the 5-year primary contract was flat, and the 2-year primary contract edged up 0.01%. * **Commodities:** Domestic commodity futures were mostly higher. Shanghai silver, Shanghai gold, palladium, and platinum led the gains, while coking coal, coke, fuel oil, and crude oil declined. The containerized freight index dropped over 7%.
**Market Updates:**
* **09:43:** Hong Kong chip stocks surged collectively. Iluvatar Corex soared nearly 12%, with Hua Hong Semiconductor and Biren Technology rising nearly 6%. SMIC and Shanghai Fudan Advanced Microelectronics gained over 3%. * **09:41:** The computing power leasing concept became active again. AuroLED hit its sixth limit-up in 11 days, Ningbo Construction Co. surged to the limit-up, and Hongjing Technology rose over 10%. UCloud, Capital Online, Shunwang Technology, and Canatal Data-center Environmental Tech followed with gains. * **09:39:** Shipping stocks rose sharply. Jinjiang Shipping and China Merchants Energy Shipping hit the limit-up directly, while COSCO SHIPPING Energy Transportation approached the limit-up. * **09:38:** The power sector declined collectively. Guangxi Energy touched the limit-down, with China Minji Energy, Jinneng Holding Power, Mindong Electric Power, and Huadian Liaoneng all falling over 5%. Henan Lianhua Energy, Shaoneng Co., and Jiangsu Xinrui Energy followed the downturn. * **09:37:** The major infrastructure sector remained active. China Railway High-tech surged for a third consecutive session to the limit-up, while Beiguang International hit the limit-up directly at the open. China International Engineering and Jinxi Axle touched the limit-up, with Tietuo Machinery and Jin Ying Heavy Industry following suit. * **09:33:** The fiberglass concept rose rapidly. Shandong Fiberglass approached the limit-up, while International CSG rose over 10%. China Jushi and Sinoma Science & Technology followed with gains. * **09:28:** Hong Kong AI application stocks strengthened. Zhipu AI rose 15%, MINIMAX gained 9.74%, and Xunce rose 8.66%. * **09:26:** The Shanghai Composite Index opened 1.23% higher, and the ChiNext Index rose 2.21%. The semiconductor and computing hardware themes rebounded, with memory and CPO sectors leading. Gold, AI computing, industrial metals, cybersecurity, commercial aerospace, and consumer electronics concept stocks were active. Oil & gas and coal sectors retreated. Over 5,100 stocks advanced in the market. * **09:21:** The Hang Seng Index opened 2.3% higher, and the Hang Seng Tech Index rose 2.75%. Zijin Mining Group gained nearly 7%, while NIO and China Molybdenum rose over 6%. WuXi AppTec and Hua Hong Semiconductor increased over 5%. TENCENT and SMIC advanced over 4%. * **09:01:** At the commodity futures open, the primary crude oil contract fell over 7%, fuel oil dropped over 4%, and ethylene glycol and coking coal declined over 3%. Shanghai silver rose over 5%, while Shanghai gold and Shanghai tin gained over 2%.
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