ChiNext Plunges Over 1%, Commercial Aerospace and Computing Hardware Sectors Adjust, Real Estate Surges, Hang Seng Tech Index Drops 1%, POP MART Defies Trend with 10% Gain, Government Bonds Rebound

Deep News01-20

On January 20, A-shares fluctuated and declined, with the three major indices collectively falling in early trading. The ChiNext Index dropped over 1%, while sectors such as computing hardware stocks and commercial aerospace adjusted. The real estate sector saw an unusual surge. Hong Kong stocks also trended lower in the morning session, with both the Hang Seng Index and the Hang Seng Tech Index declining. Most technology and internet stocks faced pressure, while the new consumption sector rebounded. POP MART defied the downward trend, surging 10%. In the bond market, government bond futures generally rebounded. Regarding commodities, most domestic commodity futures fell, although lithium carbonate bucked the trend with a gain of over 4%. Core market movements are as follows:

A-shares: As of writing, the Shanghai Composite Index fell 0.46%, the Shenzhen Component Index dropped 1.26%, and the ChiNext Index declined 1.52%.

Hong Kong Stocks: As of writing, the Hang Seng Index decreased by 0.50%, and the Hang Seng Tech Index fell 1.01%.

Bond Market: Government bond futures rebounded across the board. As of writing, the 30-year main contract rose 0.23%, the 10-year main contract increased 0.03%, the 5-year main contract gained 0.04%, and the 2-year main contract edged up 0.02%.

Commodities: Most domestic commodity futures declined. At the open of commodity futures, the main silver contract on the Shanghai Futures Exchange rose over 4%, tin on the Shanghai Futures Exchange gained over 2%, while European container freight, nickel on the Shanghai Futures Exchange, lithium carbonate, stainless steel, and gold on the Shanghai Futures Exchange all increased over 1%. Conversely, coke, glass, BR rubber, caustic soda, coking coal, and alumina all fell more than 2%.

At 10:08, the ChiNext Index dropped over 1%, and the Shanghai Composite Index declined 0.3%. Commercial aerospace, satellite internet, and CPO (Co-Packaged Optics) were among the biggest decliners.

At 09:58, POP MART surged 10% after the company spent HKD 251 million on share repurchases, marking its first buyback since the beginning of 2024.

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