Chip and semiconductor stocks, along with computing hardware shares, collectively declined. An article from Wall Street News mentioned that a new automation tool launched by AI startup Anthropic triggered panic selling in software stocks, marking the largest single-day drop since last April and severely impacting large-cap tech stocks. Following consecutive periods of intense volatility, international gold and silver staged a strong rebound driven by bargain hunting, with gold briefly reclaiming the $5,000 mark. The A-share precious metals sector recovered, with SHFE gold and silver posting significant gains. On February 4th, A-shares showed divergent performance: the Shanghai Composite Index fluctuated upwards, while the ChiNext Index opened lower and continued to decline, dropping over 2% at one point during the early session. Chip, semiconductor, and computing hardware stocks fell collectively, led by declines in CPO and AI computing sectors. Coal stocks surged, while oil & gas and baijiu (liquor) sectors were active. Hong Kong stocks oscillated lower, with the Hang Seng TECH Index falling over 1%. Technology and internet stocks underwent another round of collective adjustment, AI concept stocks declined uniformly, and the semiconductor sector dropped sharply, with Hua Hong Semiconductor falling over 4%. In the bond market, treasury futures were generally lower. In commodities, most domestic commodity futures rebounded, with SHFE gold and silver soaring over 6%. Key market movements:
A-shares: As of writing, the Shanghai Composite Index rose 0.20%, the Shenzhen Component Index fell 0.78%, and the ChiNext Index dropped 1.82%.
Hong Kong stocks: As of writing, the Hang Seng Index was flat, while the Hang Seng TECH Index fell 1.60%.
Bond market: Treasury futures fell across the board. As of writing, the 30-year main contract dropped 0.05%, the 10-year main contract fell 0.03%, the 5-year main contract declined 0.05%, and the 2-year main contract dipped 0.02%.
Commodities: Most domestic commodity futures rose. As of writing, SHFE silver surged 7%; SHFE gold and SHFE tin rose 6%; palladium gained over 5%; fuel oil and platinum climbed over 4%; SHFE copper, SHFE nickel, and lithium carbonate increased over 3%; glass, SHFE aluminum, asphalt, and coking coal rose over 2%; stainless steel, polysilicon, coke, and rubber gained over 1%.
At 09:57, A-share baijiu (liquor) stocks surged again, with Huangtai Wine Industry hitting the limit-up, achieving five consecutive limit-up boards. Jiugui Liquor, Kweichow Moutai, Luzhou Laojiao, Shanxi Xinghuacun Fen Wine, etc., followed with gains. At 09:53, the Hang Seng Index turned positive, with China Shenhua Energy rising over 4% and CNOOC gaining over 2%.
At 09:49, coal stocks exploded upwards, with Yankuang Energy, Shaanxi Black Cat, and Yunnan Coal & Energy hitting the limit-up. China Coal Energy, Dayou Energy, Jinneng Holding Coal Industry Group, etc., rose sharply.
At 09:45, Hong Kong-listed chip stocks trended lower early in the session, with Shanghai Fudan falling over 6%, Hua Hong Semiconductor dropping more than 4%, Gigadevice Semiconductors declining over 3%, and SMIC falling nearly 3%.
At 09:41, the ChiNext Index fell 2%. Suzhou TFC Optical Communication and Zhongji Innolight dropped over 9%, while TFC Optical Communique and BlueFocus Communication declined more than 4%.
At 09:36, the intraday loss on the Hang Seng TECH Index widened to 1.3%. Kingdee International Software fell over 8%, while Hua Hong Semiconductor, Trip.com Group, and Kingsoft Corporation dropped over 3%. At 09:26, the Shanghai Composite Index opened 0.08% lower, and the ChiNext Index fell 0.8%. The AI computing power industry chain moved lower, led by memory and CPO sectors. Semiconductor and consumer electronics themes were among the top decliners. Gold, base metals, and oil & gas sectors rebounded. At 09:21, the Hang Seng Index opened 0.14% lower, and the Hang Seng TECH Index fell 0.87%. Zijin Mining Group rose over 2%, and CNOOC gained nearly 2%. Most technology and internet stocks opened lower, with Meituan, Kuaishou, Tencent Holdings, Trip.com Group, and Hua Hong Semiconductor among the top decliners.
At 09:16, the central parity rate of the Chinese yuan against the US dollar was set at 6.9533, up 75 basis points. The previous trading day's central parity was 6.9608, the previous official closing price was 6.9362, and the previous night session closing price was 6.9397. At 09:01, Commodity futures opened with the SHFE silver main contract up over 7%, SHFE tin up over 6%, SHFE gold up nearly 6%, and fuel oil up over 4%. SHFE copper, international copper, low-sulfur fuel oil, and styrene rose over 3%.
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