ChiNext Index Drops Over 1%, Eoptolink and Zhongji Innolight Fall More Than 6%

Deep News10-31

09:46 A-share memory chip concept stocks weakened, with Jiangbolong and Biwin Storage dropping over 8%. Shannon Coretech, Puya Semiconductor, and Yunhan Corecity followed the decline.

09:44 The STAR 50 Index fell over 2.5%, while the ChiNext Index dropped more than 1%. Eoptolink Technology Inc., Ltd. and Zhongji Innolight Co., Ltd. both declined over 6%.

09:41 Duty-free concept stocks strengthened, with Hainan Strait Shipping briefly hitting the daily limit-up. Pingtan Development, Caissa Tosun, Hainan Development, and Maoye Commercial led gains. The Ministry of Finance, Ministry of Commerce, Ministry of Culture and Tourism, General Administration of Customs, and State Taxation Administration jointly issued a notice to improve duty-free shop policies and boost consumption.

09:26 The Shanghai Composite Index opened 0.05% lower, while the ChiNext Index dipped 0.08%. Memory chips, lab-grown diamonds, photovoltaics, and new energy vehicle sectors weakened, while duty-free stores, lithium batteries, and gold-related stocks gained.

09:21 The Hang Seng Index opened 0.07% lower, and the Hang Seng Tech Index fell 0.65%. BYD dropped 3.55% at open following its earnings release. BYD Electronic declined 1.66%, while Alibaba, Xiaomi, NetEase, and Baidu fell over 1%. China Metallurgical Group and CRRC lost more than 3%. Lepu Biopharma surged over 7%.

09:16 The central parity rate of the yuan against the U.S. dollar was set at 7.0880, down 16 basis points from the previous day's 7.0864. The onshore yuan closed at 7.1107 at 16:30 the prior day, with the overnight rate settling at 7.1098.

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