On June 24th, Chinese A-shares exhibited a volatile upward trend, with the three major indices collectively rising at the market open. The ChiNext board advanced by nearly 1%. Shipping and innovative drug stocks led the gains, while non-ferrous metals and lab-grown diamond sectors faced collective adjustments. Computing hardware staged a rebound, with concepts like copper-clad laminates, HBM, and printed circuit boards seeing significant collective increases.
Hong Kong stocks opened higher and continued to gain. The Hang Seng Index and the Hang Seng TECH Index both rebounded at the opening. Most technology and internet stocks advanced. In the bond market, treasury bond futures rose across the board. In commodities, most domestic futures declined, with Shanghai silver futures plummeting over 4%, while the containerized freight index rose over 1%. Key market performances are as follows:
A-Shares: At the time of writing, the Shanghai Composite Index was up 0.05%, the Shenzhen Component Index gained 0.49%, and the ChiNext Index rose 0.92%.
Hong Kong Stocks: At the time of writing, the Hang Seng Index increased 0.51%, and the Hang Seng TECH Index climbed 0.72%.
Bond Market: Treasury bond futures moved higher across all tenors. At the time of writing, the 30-year front-month contract was up 0.04%, the 10-year gained 0.05%, the 5-year rose 0.04%, and the 2-year increased 0.01%.
Commodities: Most domestic commodity futures fell. At the time of writing, the containerized freight index was up 1%. Slight gains were seen in asphalt, soybean meal, eggs, iron ore, alumina, industrial silicon, lithium carbonate, coke, hot-rolled coil, and polysilicon. Decliners included glass, rapeseed, platinum, rubber, caustic soda, ferromanganese silicon, coking coal, Shanghai copper, pulp, and fuel oil. Stainless steel, Shanghai aluminum, Shanghai gold, palladium, and Shanghai nickel fell over 1%. Crude oil dropped over 2%, while Shanghai silver and fuel oil plunged more than 4%.
09:59
PCB concept stocks collectively rebounded, led by glass fiber and copper foil segments. China Jushi Co., Ltd. hit the daily limit-up, while International Composite Materials Co., Ltd. surged over 10%, continuing to set new historical highs. Earlier, Mankun Technology Co., Ltd. rose by the 20% daily limit. Hengtong Optic-Electric Co., Ltd., Huazheng New Material Co., Ltd., Ping An Electric Co., Ltd., and Tongguan Copperfoil Co., Ltd. followed with gains.
On the news front, rising prices for upstream raw materials like electronic cloth and electronic resin have driven price increases for copper-clad laminates, with smooth transmission through the industrial chain. Analysts point out that Kingboard Laminates Holdings Ltd. announced a 15% price hike for all thicknesses of FR-4 copper-clad laminates and PP prepregs on June 16th, while the price of 7628 electronic cloth has risen over 70% since the beginning of the year.
09:52
The advanced packaging concept showed repeated strength. Huicheng Co., Ltd. rose by the 20% daily limit. Earlier, TaiJi Computer Corporation Ltd. hit the limit-up. Jiangsu Changjiang Electronics Technology Co., Ltd., S-Chips Microelectronics Co., Ltd., Sino IC Technology Co., Ltd., Tianshui Huatian Technology Co., Ltd., and Tongfu Microelectronics Co., Ltd. followed with gains.
According to analyst predictions, driven by sustained volume growth in AI accelerator orders, the evolution of HBM stacking layers towards 12 and above, and increasing demand for highly integrated solutions from smartphones and automotive electronics, the global advanced packaging market is forecast to reach $58.1 billion by 2026, approaching $80 billion by 2030.
09:51
Hong Kong's semiconductor sector moved higher. Hua Hong Semiconductor Ltd. gained nearly 7%, Semiconductor Manufacturing International Corporation rose over 3%, while GigaDevice Semiconductor Inc. and Montage Technology Co., Ltd. increased over 2%.
09:44
Shipping stocks surged at the open. China Merchants Energy Shipping Co., Ltd. and Cosco Shipping Energy Transportation Co., Ltd. hit the daily limit-up, while China Merchants Nanjing Oil Transportation Co., Ltd. gained over 7%.
09:33
The innovative drug concept extended its strong performance in the early session. Haixin Co., Ltd. secured its fourth consecutive limit-up board, Hainan Haiyao Co., Ltd. achieved its second consecutive limit-up board, Jianianhua Inc. surged over 10%, while Jingfeng Pharmaceutical Group Co., Ltd., Shandong Xinhua Pharmaceutical Co., Ltd., and Lepu Medical Technology Co., Ltd. were among the top gainers.
On the news front, on June 23rd, the National Drug Centralized Procurement Office issued the "Announcement for the 12th Batch of National Organized Drug Centralized Volume-Based Procurement," officially launching the 12th batch of centralized drug procurement. A total of 65 drug varieties are included, covering therapeutic areas such as dermatology, gastroenterology and metabolism, and cardiovascular diseases.
09:26
The Shanghai Composite Index opened 0.39% lower, while the ChiNext Index opened down 0.25%. Lab-grown diamonds, industrial metals, semiconductors, memory chips, ultra-high voltage, and PCB concept stocks faced declines. Lithium batteries, shipping, insurance, and chemical sectors showed strength.
09:21
The Hang Seng Index opened 0.36% higher, and the Hang Seng TECH Index opened up 0.48%. NIO Inc. gained nearly 5%, while Lenovo Group Ltd., Baidu, Inc., and Trip.com Group Ltd. rose over 2%. MiniMax fell over 2%.
09:01
At the commodity futures open, the main contracts for Shanghai silver and Shanghai tin fell over 4%. Shanghai nickel dropped over 2%. Crude oil, pure benzene, propylene, Shanghai zinc, Shanghai gold, Shanghai aluminum, stainless steel, international copper, and rubber declined over 1%. Rapeseed meal rose over 1%.
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