Driven by significant gains in concept stocks such as storage chips and GPUs, A-share computing hardware stocks surged again, propelling the STAR 50 Index up by nearly 3%. This followed SK Hynix's stock price expanding its gains to 12%, reaching a total market capitalization of $900 billion.
On May 11th, A-shares opened higher in the morning session, with the three major stock indices fluctuating upwards. The Shanghai Composite Index once broke through the 4200-point level, while the Shenzhen Component Index and the ChiNext Index both rose by about 1%. Computing hardware stocks experienced another surge, with sectors including GPUs, storage chips, semiconductors, and HBM collectively rising. Sectors such as real estate, power, and coal were also active.
Hong Kong stocks opened lower in the morning session, with both the Hang Seng Index and the Hang Seng TECH Index declining. Most major technology and internet stocks fell, while Semiconductor Manufacturing International Corporation (SMIC) and Hua Hong Semiconductor saw gains against the trend. In the bond market, treasury bond futures collectively declined. In commodities, most domestic commodity futures rose, with the container shipping index and crude oil leading the gains.
Key Market Movements:
A-shares: As of writing, the Shanghai Composite Index rose 0.29%, the Shenzhen Component Index gained 0.45%, and the ChiNext Index increased 0.11%.
Hong Kong stocks: As of writing, the Hang Seng Index fell 0.44%, and the Hang Seng TECH Index dropped 0.68%.
Bond market: Treasury bond futures fell across the board. As of writing, the 30-year main contract declined 0.39%, the 10-year main contract fell 0.06%, the 5-year main contract dropped 0.03%, and the 2-year main contract decreased 0.01%.
Commodities: Domestic commodity futures generally rose. As of writing, the container shipping index and fuel oil surged over 4%, while eggs, crude oil, lithium carbonate, asphalt, and methanol led the gains. Coke, iron ore, industrial silicon, Shanghai tin, hot-rolled coil, coking coal, and rebar saw modest increases. Polysilicon fell nearly 3%, while Shanghai gold, manganese silicon, rubber, and caustic soda declined by about 1%.
09:36 Storage chip concept stocks opened significantly higher, with Jiangbolong and Tongyou Technology rising over 10%, and Puran Shares, Biwin Storage, Netac Technology, and Dapu Micro rising over 5%.
On the news front, in Monday's morning session, SK Hynix's stock price once rose more than 8%, and Samsung Electronics' stock price increased over 5%, both hitting new all-time highs.
09:26 The Shanghai Composite Index opened 0.51% higher, surpassing the 4200-point mark to reach a new high in over a decade. The ChiNext Index rose 0.88%. The semiconductor industry chain surged, led by the memory sector. AI computing power, stablecoin, commercial aerospace, and space photovoltaic concept stocks strengthened. Gold, e-commerce, and lithium mining themes weakened.
09:21 The Hang Seng Index opened 0.31% lower, and the Hang Seng TECH Index fell 0.48%. Baidu Group dropped over 3%, while Tencent Music and NetEase declined over 2%. Chip stocks strengthened, with Hua Hong Semiconductor rising over 5% and Semiconductor Manufacturing International Corporation (SMIC) gaining over 3%.
09:01 Commodity futures opened with fuel oil and LU fuel oil main contracts rising over 4%. Crude oil, asphalt, and polypropylene increased over 2%. Styrene, plastics, eggs, pure benzene, the Europe container shipping line, and liquefied petroleum gas rose over 1%. Polysilicon fell over 3%, and soda ash declined over 2%.
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