At 9:21 AM on September 21st, Hong Kong's Hang Seng Index opened nearly flat with a slight dip of 0.01%, while the Hang Seng Tech Index fell 0.08%. Early trading saw softness in shares of Zhipu, Lenovo Group, and Trip.com Group.
By 9:26 AM, the Shanghai Composite Index opened 0.21% higher, while the ChiNext Index surged 0.93%. Sectors such as CRO, memory chips, and optical modules strengthened, while the sub-new stock segment adjusted lower, with Shenyang Blower Works' shares tumbling 48%.
At 9:32 AM, CXMT's shares climbed over 5%, boosting the storage sector, with GigaDevice, Montage Technology, Dapu Microelectronics, and Biwin Storage following suit. This rally was supported by news that CXMT's fifth-generation technology platform has achieved mass production, with wafer output increasing by more than 50% compared to the previous generation.
At 9:34 AM, AI pharmaceuticals and CRO concepts repeatedly strengthened, with Novogene hitting the 20% limit up. Other gainers included Hongbo Medicine, HitGen, Tigermed, Berry Genomics, and Sailhero Medical. On the news front, on September 18th, the Ministry of Industry and Information Technology and nine other departments jointly issued the "15th Five-Year Plan for the Development of the Pharmaceutical Industry." The plan proposes accelerating the application of new technologies such as artificial intelligence, quantum computing, supercomputing, and computational medicine to empower drug research and development, while also exploring new production models for pharmaceuticals and devices like limit-manufacturing, space pharma, and biomanufacturing.
At 9:40 AM, the PCB sector moved higher in early trading, with Guanghe Technology hitting the daily limit. Xunjiexing, Kinwong Electronic, Shennan Circuits, ZDT, and Victory Giant Technology led the gains.
At 9:51 AM, Shenyang Blower Works, after opening 48% lower, saw consecutive rebounds and entered a second trading halt, with losses narrowing to 16.9%.
At 9:54 AM, the Hang Seng Biotech Index rose more than 4%, with shares of InSilico Medicine, GenScript Biotech, InnoCare Pharma, and Akeso all climbing over 6%. On the A-share side, the innovative drug sector remained robust, with WuXi AppTec and Pharmaron advancing steadily.
At 9:56 AM, the retail concept showed active trading, with New Huadu Century hitting the daily limit, Guofang Group reaching a second consecutive limit up, and Nanning Department Store, Hangzhou Jiebai, Guoguang Chain, and Sanjiang Shopping Club following with gains.
In the broader A-share market, the three major indices rose collectively in early trading. As of writing, the Shanghai Composite Index gained 0.50%, the Shenzhen Component Index rose 0.80%, and the ChiNext Index climbed 1.29%. The market initially saw a further push higher, with the ChiNext at one point surging over 1%. The biopharmaceutical sector exploded, with broad gains across CRO, innovative drugs, weight-loss drugs, and gene testing concepts. Aerospace and defense, catering and tourism, and retail sectors were also active, while the semiconductor industry chain entered a period of adjustment.
In Hong Kong, the market showed mixed performance with differentiation. The Hang Seng Index edged up in early trading, while the Hang Seng Tech Index rose then fell, turning negative. The biotech index surged nearly 5%, heavyweight tech stocks were mixed, and chip stocks were active.
In the bond market, treasury bond futures fluctuated higher. As of writing, the 30-year main contract rose 0.15%, while the 10-year, 5-year, and 2-year main contracts were flat.
In the commodity market, domestic commodity futures were broadly higher. As of writing, pulp surged 3%, while asphalt, lithium carbonate, silver, and polysilicon rose over 1%. Tin, manganese silicon, rubber, palladium, platinum, alumina, industrial silicon, iron ore, stainless steel, glass, copper, rebar, hot-rolled coil, gold, and eggs all advanced. On the downside, nickel, aluminum, coking coal, coke, caustic soda, and rapeseed fell, with container index and soybean meal dropping over 1%, fuel oil down more than 2%, and crude oil plunging 6%.
Comments