Technology stocks in both A-shares and Hong Kong markets, including computing hardware and memory chips, came under pressure. Market confidence had been shaken earlier by Google's earnings report, and overnight US stocks suffered a sell-off, compounded by sharp after-hours declines in both Amazon and Intel, sending Asia-Pacific markets lower again on Friday, with South Korea's KOSPI triggering a circuit breaker and both SK Hynix and Samsung Electronics falling more than 5%.
On October 30, major A-share indices collectively opened lower, with the three main benchmarks extending losses in early trading. The ChiNext Index dropped more than 2%, while technology stocks such as computing hardware fell back into correction mode once again. Concept stocks tied to optical modules, optical communications, optical chips, and circuit boards all declined collectively, with the "Yi Zhong Tian" trio all dropping. Eoptolink Technology Inc Ltd (SZSE: 300502) plunged more than 11% after its latest financial report showed third-quarter net profit of 3.843 billion yuan, up 61.15% year-on-year but down 19% quarter-on-quarter. Consumer stocks such as baijiu, beverages, and white goods rebounded.
Hong Kong stocks rebounded collectively, with the Hang Seng Index and Hang Seng Tech Index both rising in early trading, each gaining 1%. Most heavyweight internet stocks rebounded, with Xiaomi Corp (HKEX: 1810), Meituan (HKEX: 3690), Alibaba Group Holding Ltd (HKEX: 9988), Trip.com Group Ltd (HKEX: 9961), and NetEase Inc (HKEX: 9999) all moving higher. Optical modules and other computing hardware declined, while memory chip and AI large-model stocks also came under pressure. In the bond market, treasury futures collectively turned lower in early trading. In commodities, most domestic commodity futures fell.
Core Market Movements
A-shares: As of press time, the Shanghai Composite Index fell 0.79%, the Shenzhen Component Index dropped 1.30%, and the ChiNext Index declined 1.97%.
Hong Kong stocks: As of press time, the Hang Seng Index rose 0.87% and the Hang Seng Tech Index gained 0.96%.
Bond market: Treasury futures fluctuated upward. As of press time, the 30-year main contract rose 0.05%, the 10-year main contract gained 0.01%, the 5-year main contract was flat, and the 2-year main contract fell 0.01%.
Commodities: Most domestic commodity futures declined. As of press time, asphalt rose 3%, caustic soda and fuel oil gained 2%, and crude oil, wood pulp, glass, eggs, and the container shipping index rose more than 1%. A few varieties including stainless steel, alumina, and Shanghai aluminum moved higher, while rapeseed, industrial silicon, Shanghai nickel, rubber, hot-rolled coil, manganese silicon, coke, iron ore, rebar, coking coal, and Shanghai copper declined. Shanghai gold and lithium carbonate fell more than 1%, while palladium, Shanghai tin, polysilicon, platinum, and Shanghai silver all fell by close to or more than 3%.
09:52
Liquid cooling server concept stocks weakened collectively, with Dayuan Pump Industry Co Ltd (SZSE: 603757) hitting the daily limit down, after Feilong Auto Components Co Ltd (SZSE: 002536) previously hit the limit down, while Qiangrui Technology (SZSE: 300889), Tongfei Co Ltd (SZSE: 300990), Bingshan Refrigeration & Heat Transfer Technologies Co Ltd (SZSE: 000530), and Shenzhen Envicool Technology Co Ltd (SZSE: 002837) all declined.
09:48
The baijiu sector continued to rally, with Anhui Yingjia Distillery Co Ltd (SHSE: 603198) the first to hit the daily limit up, while Anhui Gujing Distillery Co Ltd (SZSE: 000596), Gansu Huangtai Wine-Marketing Industry Co Ltd (SZSE: 000995), and Luzhou Laojiao Co Ltd (SZSE: 000568) surged.
09:44
The Hang Seng Tech Index rose more than 1%, with Xiaomi Corp (HKEX: 1810), Midea Group Co Ltd (HKEX: 0300), Meituan (HKEX: 3690), and Haier Smart Home Co Ltd (HKEX: 6690) all climbing more than 4%.
09:37
The memory sector rebounded, with Dapu Micro (SZSE: 301666) surging more than 12%, followed by Ingenic Semiconductor Co Ltd (SZSE: 300223) and Shenzhen Longsys Electronics Co Ltd (SZSE: 301308).
09:28
Computing hardware stocks extended their decline, with Victory Giant Technology (Huizhou) Co Ltd (SZSE: 300476), Eoptolink Technology Inc Ltd (SZSE: 300502), Suzhou TFC Optical Communication Co Ltd (SZSE: 300394), and DeKoLi Technology (SZSE: 301511) falling more than 10%, while Taijin New Energy (SZSE: 301158), Taichenguang (SZSE: 300570), Cambridge Technology (SHSE: 603083), and Zhongji Innolight Co Ltd (SZSE: 300308) dropped more than 6%.
09:26
The Shanghai Composite Index opened 1.25% lower and the ChiNext Index fell 3.29%. Eoptolink Technology Inc Ltd (SZSE: 300502) and Victory Giant Technology (Huizhou) Co Ltd (SZSE: 300476) dropped more than 12%, with copper-clad laminate and optical communication sectors deeply correcting. Coal, baijiu, and banking sectors were active. The "Yi Zhong Tian" trio all plunged.
09:21
The Hang Seng Index opened 0.23% higher, while the Hang Seng Tech Index fell 0.63%. Midea Group Co Ltd (HKEX: 0300), China Merchants Bank Co Ltd (HKEX: 3968), and Trip.com Group Ltd (HKEX: 9961) strengthened. Victory Giant Technology (Huizhou) Co Ltd (SZSE: 300476) fell 15%, while Zhongji Innolight Co Ltd (SZSE: 300308) and Yangtze Optical Fibre and Cable Joint Stock Ltd (HKEX: 6869) continued to correct sharply.
Zhongji Innolight Co Ltd (SZSE: 300308) opened 7.2% lower in Hong Kong early trading, with its share price hitting a record low since listing.
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