On October 19, A-shares opened lower and moved downward in morning trading, with the three major stock indices expanding their intraday losses. The ChiNext Index and the STAR 50 Index both fell more than 2%, while AI hardware, semiconductors, and other sectors collectively corrected again. Concept stocks related to memory chips, optical modules, and circuit boards fell broadly. Changxin Technology dropped as much as 8% in early trading, and the so-called "Yizhongtian" stocks all declined. In contrast, liquor, chemicals, and Banking sectors bucked the trend and rose.
Hong Kong stocks were closed today for the Chung Yeung Festival holiday. In the bond market, government bond futures generally declined. In commodities, most domestic commodity futures rose. Core market movements:
A-shares: As of press time, the Shanghai Composite Index was down %, the Shenzhen Component Index was down %, and the ChiNext Index was down %.
Hong Kong stocks: Closed.
Bond market: Government bond futures fell across the board. As of press time, the 30-year main contract dropped 0.22%, the 10-year main contract fell 0.04%, the 5-year main contract slipped 0.01%, and the 2-year main contract rose 0.01%.
Commodities: Most domestic commodity futures rose. As of press time, fuel oil surged 6%, while platinum, iron ore, container shipping index, manganese silicon, and Shanghai nickel rose more than 1%. Lithium carbonate, Shanghai aluminum, Shanghai silver, industrial silicon, hot-rolled coils, stainless steel, alumina, Shanghai tin, Shanghai copper, Shanghai gold, rebar, polysilicon, and asphalt all moved higher. Palladium, glass, rubber, crude oil, coke, rapeseed, soybean meal, and wood pulp declined, while caustic soda, coking coal, and eggs fell more than 1%.
10:31
The liquor sector bucked the trend and rose, with Shunxin Agriculture hitting the daily limit. Gujing Distillery, Huangtai Liquor, Shanxi Fenjiu, and Yingjia Distillery followed higher.
On the news front, distributors in Henan, Shandong, Guangdong, Anhui, and other regions reported that liquor channel inventories continued to destock. Some liquor merchants saw inventories fall 10% to 20% year-on-year, top-selling famous liquor products turned over faster, and some terminal inventories have been kept to one to two months.
10:29
Muxi Shares rose nearly 7%, while Moore Threads, Cambricon, and Hygon Information Sciences also climbed in tandem, driving the GPU sector.
10:12
The optical module (CPO) index continued to decline, with Tianfu Communication, Lianxun Instruments, Cambridge Technology, Victory Giant Technology, and T&S Communications all falling more than 6%.
Dapu Micro sealed the daily limit, while Demingli, Junzheng Shares, and Biwin Storage followed, significantly narrowing the decline in the storage sector.
09:49
Core AI hardware names faced heavy selling pressure in early trading. Sanhuan Group, Sinoma Science & Technology, Tianfu Communication, Pending Holdings, Victory Giant Technology, SMIC, Wus Printed Circuit, JCET, and Shengyi Electronics all fell around 4%.
09:39
The ChiNext Index fell more than 1%.
09:25
The Shanghai Composite Index opened 0.6% lower, while the ChiNext Index fell 0.43%. Optical communications, fiberglass, copper-clad laminates, vaccines, and media sectors corrected. Automobiles, oil and gas, and defense sectors were active.
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