The robotics concept collectively surged, following a previous report that Unitree Robotics will have its STAR Market IPO reviewed on June 1st. On May 26th, A-shares fell across the board in early trading, with the three major indices collectively declining at the open. Storage chips, semiconductors, computing hardware, and related concept stocks broadly adjusted, while robotics concept stocks rallied. The financial and power sectors strengthened. Hong Kong stocks showed mixed performance with divergence. The Hang Seng Tech Index opened higher but later retreated, briefly rising over 1% at the open, while the Hang Seng Index fluctuated lower. Chip stocks advanced, with SMIC and Huahong Semiconductor soaring over 10%. Most technology and internet stocks declined. In the bond market, treasury futures rose across the board. In commodities, domestic commodity futures mostly fell, with crude oil and lithium carbonate leading the declines. Coking coal and coke bucked the trend with significant gains. Key market movements:
A-shares: As of writing, the Shanghai Composite Index fell 0.82%, the Shenzhen Component Index dropped 0.97%, and the ChiNext Index declined 0.57%.
Hong Kong stocks: As of writing, the Hang Seng Index dipped 0.32%, while the Hang Seng Tech Index gained 0.71%.
Bond market: Treasury futures rose with fluctuations. As of writing, the 30-year main contract rose 0.04%, the 10-year main contract was flat, the 5-year main contract increased 0.01%, and the 2-year main contract edged up 0.02%.
Commodities: Domestic commodity futures mostly declined. As of writing, coking coal surged 8% against the trend, with coke and alumina rising nearly 5%. A few varieties like the containerized freight index, pulp, and polysilicon advanced. Gold futures, eggs, rapeseed, rubber, industrial silicon, tin, palladium, stainless steel, soybean meal, copper, aluminum, silver, platinum, and glass fell, while hot-rolled coil, manganese silicon, rebar, nickel, caustic soda, asphalt, iron ore, and fuel oil dropped over 1%. Lithium carbonate and crude oil declined more than 2%.
09:52 Lenovo Group surged 13.5%. On the news front, the group recently released its Q4 and full-year results for the 2025/26 fiscal year, with performance significantly exceeding market expectations across the board. Q4 net profit skyrocketed 479.5%, and the ISG Infrastructure Solutions Group business turned profitable. Subsequently, DBS Bank, CICC, and others raised their target prices to 20 Hong Kong dollars or above.
09:47 Computing power concept stocks fluctuated lower. Dawei Technology and Huasheng Shares hit the跌停 limit, Xingyun Technology fell nearly 10%, while Ziguang Guoxin, Zhizhen Technology, and Hongbo Shares dropped over 6%.
09:46 The STAR 50 Index fell over 3%, the Beijing Stock Exchange 50 Index declined over 1%, and the Shanghai and Shenzhen Composite Indices dropped nearly 0.7%. The power grid, semiconductor chips, military industry, newly listed stocks, and computing power leasing sectors led the declines. Nearly 4,100 stocks fell across the Shanghai, Shenzhen, and Beijing exchanges.
09:45 The semiconductor sector adjusted with fluctuations. Dapu Micro and Kaiweite fell over 10%, while Siruipu, Hengkun New Materials, Kaide Quartz, Zhongke Feice, and Yutai Micro declined more than 6%.
09:40 The power sector remained active with反复 fluctuations. Huadian Energy achieved its second consecutive涨停 limit. Jingneng Power, Huadian Liaoneng, Shanghai Electric Power, Huaneng Mengdian, and Chendian International followed with gains. On the news front, data released by the National Energy Administration on the 25th showed that as of the end of April, the national cumulative installed power generation capacity reached 39.9 billion kilowatts, a year-on-year increase of 14.2%. Among these, solar power installed capacity was 12.5 billion kilowatts, up 26.2% year-on-year, and wind power installed capacity was 6.6 billion kilowatts, up 22.0% year-on-year. Data released the same day also indicated that from January to April, the national average utilization hours for power generation equipment累计 reached 925 hours.
09:36 The PCB concept strengthened反复. Shengyi Electronics rose over 10%, hitting a historical high with its total market value exceeding 100 billion. Hongshida, Honghe Technology, Yihao New Materials,沪电股份, and Shengyi Technology followed with gains. On the news front, Morgan Stanley's analysis of the bill of materials for Nvidia's next-generation Rubin rack showed that PCBs became the most显著 value-increasing downstream component, surging 233% compared to the previous-generation GB300 rack, jumping from approximately $35,000 to about $117,000.
09:26 The Shanghai Composite Index opened 0.37% lower, and the ChiNext Index fell 0.45%. Ultra-hard materials, servers, CPO, photovoltaics, stablecoins, and AI application concept stocks weakened. E-commerce, Unitree Robotics, consumer electronics, and EDA themes strengthened.
09:21 The Hang Seng Index opened 0.06% higher, and the Hang Seng Tech Index rose 1.9%. Chip stocks surged, with Huahong Semiconductor and SMIC gaining nearly 15%. Xiaopeng Group increased over 3%.
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