A-shares saw a strong rebound in chip and semiconductor stocks, with memory chips, HBM, and semiconductor equipment concept stocks rallying collectively. Changxin Technology rose 3%, with its market capitalization returning to 3 trillion yuan. Overnight U.S. stocks rebounded, and combined with SK Hynix's latest earnings report showing third-quarter operating profit surging sevenfold year-on-year and expectations that memory chip supply shortages will persist until 2030, South Korean stocks surged 6%, with SK Hynix and Samsung Electronics both climbing.
On October 28, A-shares opened higher and continued to rise in early trading, with all three major indices rallying collectively at the open. The ChiNext Index rose 2%, and the STAR 50 also gained 2%. Semiconductors and computing power hardware surged, with copper-clad laminates, optical circuit switches, optical chips, memory chips, circuit boards, and semiconductor equipment concept stocks broadly strengthening. Large consumer sectors including baijiu and beverage manufacturing fell into adjustment, with Wuliangye Yibin Co.,Ltd. (000858) dropping 5% as its third-quarter net profit declined 48% year-on-year.
Hong Kong stocks also rose in early trading, with the Hang Seng Tech Index gaining over 1%. Most weighted tech internet stocks advanced, and technology stocks including chip semiconductors and optical modules rebounded, with GigaDevice, Hua Hong Semiconductor, and Montage Technology among the top gainers. New consumer concept stock POP MART (09992) opened 6% lower before recovering in early trading, with losses currently narrowed to 2%. In the bond market, government bond futures fell collectively. In commodities, domestic commodity futures mostly rose. Core market movements:
A-shares: As of press time, the Shanghai Composite Index rose 0.62%, the Shenzhen Component Index rose 1.47%, and the ChiNext Index rose 2.36%.
Hong Kong stocks: As of press time, the Hang Seng Index rose 0.25%, and the Hang Seng Tech Index rose 1.05%.
Bond market: Government bond futures fell across the board. As of press time, the 30-year main contract fell 0.04%, the 10-year main contract fell 0.02%, the 5-year main contract fell 0.01%, and the 2-year main contract was flat.
Commodities: Domestic commodity futures mostly rose. As of press time, coking coal, coking coal, platinum, and alumina rose 2%, while glass, asphalt, rubber, Shanghai silver, and Shanghai gold rose over 1%. Eggs, manganese silicon, fuel oil, lithium carbonate, Shanghai tin, rebar, Shanghai copper, Shanghai aluminum, soybean meal, palladium, hot-rolled coils, industrial silicon, and polysilicon all advanced, while pulp, iron ore, crude oil, stainless steel, Shanghai nickel, caustic soda, and container shipping index declined.
09:52
The ChiNext Index rose over 2%, the Shanghai Composite Index rose 0.69%, and the Shenzhen Component Index rose 1.34%. Semiconductor chips, computing power hardware, gaming, and consumer electronics led gains, with over 4,000 stocks rising across the Shanghai, Shenzhen, and Beijing markets.
09:42
Humanoid robot concept speculation remained active, with Dafeng Industrial, Xiangyang Bearing, Guangyang Co., and Wuzhou Xinchun hitting the daily limit. The Ministry of Industry and Information Technology expects China's humanoid robot production to exceed 100,000 units by 2026, promoting validation and deployment across more than 300 key scenarios.
09:36
Advanced packaging concept stocks fluctuated and rebounded in early trading, with Liandong Technology rising over 10%, followed by Lianrui New Materials, Huahai Chengke, Delong Laser, and Bayi Space.
On the news front, TSMC and other wafer foundry and OSAT players are brewing a new round of price increases, preparing to raise CoWoS packaging quotes by 10% to 20%. This packaging technology is widely used in high-end AI processors.
Memory chip concept stocks rebounded sharply in early trading, with Junzheng Shares rising over 10%, followed by Puya Shares, Shannon Chip Creation, Dapu Micro, Montage Technology, and Changxin Technology.
On the news front, SK Hynix, the world's second-largest memory chip manufacturer, announced on Wednesday (October 27) that third-quarter operating profit surged sevenfold year-on-year to 83.33 trillion won, far exceeding market expectations of 76.27 trillion won by approximately 9%. Revenue also reached 104.62 trillion won, about 7% above market expectations of 97.34 trillion won.
Regarding its outlook, SK Hynix was quite optimistic. The company stated that memory chip supply shortages will persist until 2030, quarterly profits have not yet peaked, and the upward momentum will not reverse at least until 2027. The company also expects DRAM market demand to grow by mid-20% year-on-year in 2027, while NAND demand growth will be in the high-teens percentage range.
09:26
The Shanghai Composite Index opened 0.78% higher, the ChiNext Index rose 1.77%, and the STAR Composite Index rose over 2%. AI hardware rebounded, with servers, electronic cloth, and copper-clad laminate sectors leading gains. Changxin Technology rose over 4%.
09:24
POP MART opened 6.1% lower in early trading. The company disclosed unaudited third-quarter operating data, showing overall revenue declined 45%–50% year-on-year. Among this, the Chinese market declined 25%–30%, Asia-Pacific fell 65%–70%, the Americas dropped 70%–75%, and Europe and other regions declined 50%–55%.
09:23
Dongshan Precision's Hong Kong H-shares debuted at HK$82.4 on the first day of listing, with an offer price of HK$86.8.
09:21
The Hang Seng Index opened 0.19% higher, and the Hang Seng Tech Index rose 0.78%. Lenovo Group, WuXi AppTec, Cambridge Technology, and Junzheng Shares strengthened. POP MART fell over 6%.
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