On April 29, A-shares experienced fluctuating gains, with the three major stock indices collectively rising at the market open. Concept stocks related to pork, rare earths, and machinery led the upward trend, while sectors such as coal, real estate, and petrochemicals were active. Hong Kong stocks opened higher and continued to climb in the morning session, with the Hang Seng Index and Hang Seng Tech Index each rising over 1% at one point. Technology and internet stocks staged a broad rebound, and new consumption concept stocks were also active.
In the bond market, government bond futures fluctuated with a downward bias. In commodities, most domestic commodity futures prices increased, with crude oil and polysilicon among the top gainers. Key market movements:
A-shares: As of writing, the Shanghai Composite Index was up 0.12%, the Shenzhen Component Index rose 0.96%, and the ChiNext Index gained 1.20%.
Hong Kong stocks: As of writing, the Hang Seng Index increased by 1.16%, and the Hang Seng Tech Index advanced 1.04%.
Bond market: Government bond futures showed mixed trends. As of writing, the 30-year main contract fell 0.15%, the 10-year main contract declined 0.01%, the 5-year main contract rose 0.01%, and the 2-year main contract remained flat.
Commodities: Most domestic commodity futures prices rose. As of writing, fuel oil was up 2%, while polysilicon, Shanghai nickel, crude oil, and asphalt each gained over 1%. Industrial silicon, soybean meal, methanol, the containerized freight index, coking coal, and coke also moved higher. Ferromanganese, Shanghai copper, pulp, and Shanghai aluminum declined, with Shanghai silver dropping over 3%.
10:45 The newly crowned "stock king" of A-shares, Yuanjie Semiconductor Technology Co.,Ltd., saw its shares rise over 5% during the session to 1,525.54 yuan per share, hitting a new record high. Its total market capitalization surpassed 130 billion yuan, with a transaction volume exceeding 3 billion yuan.
10:36 The ChiNext Index rose over 1%, while the Shanghai Composite Index gained 0.05% and the Shenzhen Component Index increased 0.79%. Sectors such as pork, food, real estate, and rare earth permanent magnets led the gains. Nearly 3,800 stocks advanced across the Shanghai, Shenzhen, and Beijing exchanges.
10:23 Rare earth permanent magnet concept stocks surged, with China Northern Rare Earth (Group) High-Tech Co., Ltd. hitting the daily limit-up. China Rare Earth Resources And Technology Co., Ltd., Western Metal Materials Co., Ltd., and Shenghe Resources Holding Co., Ltd. also moved higher.
10:07 The banking sector strengthened, with Qingdao Rural Commercial Bank Corporation hitting the daily limit-up. Bank of Changsha Co., Ltd., Bank of Jiangsu Co., Ltd., Qingdao Rural Commercial Bank Corporation, and Bank of Changshu Co., Ltd. followed the upward trend.
Regarding news, Qingdao Rural Commercial Bank Corporation announced that for the first quarter of 2026, it achieved a net profit attributable to shareholders of the parent company of 1.524 billion yuan, an increase of 266 million yuan year-on-year, representing growth of 21.16%.
10:04 Lithium mining concept stocks showed repeated strength, with Yongshan Lithium Industry securing two consecutive daily limit-ups. Tibet Summit Resources Co., Ltd. approached the limit-up at one point, while Tibet Urban Development and Investment Co., Ltd., Yongxing Special Materials Technology Co., Ltd., Tianhua New Energy Co., Ltd., and Yahua Industrial Group Co., Ltd. were among the top gainers.
On the news front, the price of battery-grade lithium carbonate increased by 3,500 yuan per ton over the past week, a rise of 2.03%. Over the past month, the price has accumulated an increase of 20,000 yuan per ton, a gain of 12.82%. Previously, IGO Ltd. significantly lowered its lithium concentrate production guidance for the Greenbushes operation for fiscal year 2026 from 1.5-1.65 million tons to 1.375-1.425 million tons, with a median reduction of 11%.
On April 29, the Ministry of Natural Resources released the latest details on China's mineral resource base. China ranks first globally in reserves for 14 minerals, including rare earths, tungsten, tin, molybdenum, antimony, gallium, germanium, indium, fluorite, and graphite. In 2025, China led the world in production of 17 minerals, including coal, vanadium, titanium, zinc, rare earths, tungsten, tin, molybdenum, antimony, gallium, indium, gold, and tellurium. Currently, China's mineral production and smelting processing scale consistently ranks first globally. In 2025, the national mining output value was approximately 32.7 trillion yuan, accounting for over 23% of GDP. The substantial growth in resource reserves has laid a solid foundation for resource self-sufficiency and control.
09:56 In the morning session, pork concept stocks staged a collective rebound, with Kingenta Ecological Engineering Group Co., Ltd. hitting the daily limit-up. Zhengbang Technology Co., Ltd.,巨星农牧,神农集团,天邦食品, and唐人神 followed the gains.
09:51 Pop Mart International Group Limited rose nearly 3%. On the news front, Pop Mart announced it will officially launch the Pop Mart LABUBU refrigerator on April 30. Even before the sale began, prices for related products on secondary platforms surged, with some items reportedly being resold for as high as 92,300 yuan on a certain second-hand trading platform.
09:46 Innovative drug concept stocks performed actively, with GuangShengTai Pharmaceutical Co., Ltd. rising over 10%. Yatai Group Co., Ltd. hit the daily limit-up, while Lianhuan Pharmaceutical Co., Ltd.,康芝药业, Tibet Rhodiola Pharmaceutical Holding Co., Ltd., InventisBio Co., Ltd., Guangdong Wanyuan Pharmaceutical Co., Ltd., and舒泰神 followed the upward trend.
Regarding news, the 2026 American Society of Clinical Oncology Annual Meeting is scheduled to take place in Chicago from May 29 to June 2. The number of selected studies from Chinese innovative pharmaceutical companies reached a new record high at this conference—a total of 13 studies from 12 Chinese innovative drug makers were selected for the plenary session and late-breaking abstracts, setting a new historical record.
09:41 In the morning session, the PCB industry chain continued its strong performance, with fiberglass and copper foil segments leading the gains. Shandong Fiberglass Group Co., Ltd. achieved two daily limit-ups in three days. Tongguan Copper Foil Group Co., Ltd. and宏和科技rose over 6%, continuing to hit new historical highs. Dongcai Technology Co., Ltd.,德福科技, and长海股份were among the top gainers.
On the news front, on April 28, leading CCL manufacturer Kingboard Laminates Holdings Ltd. issued a formal price increase notice. It stated that due to high copper prices and tight supply of glass fabric, the cost of copper-clad laminate has risen sharply. Effective immediately, it is raising the prices of FR-4 CCL and PP prepreg by an adjustment幅度 of 10%.
09:26 The Shanghai Composite Index opened 0.41% lower, while the ChiNext Index fell 0.51%. The computing power hardware industry chain, including CPO and PCB, led the declines. Concept stocks related to photovoltaics, semiconductors, consumer electronics, commercial aerospace, AI applications, and fintech were among the top losers.
09:21 The Hang Seng Index opened 0.63% higher, and the Hang Seng Tech Index rose 1.07%. JD Health International Inc. and NIO Inc. gained over 4%, while Li Auto Inc. rose over 3%. Bilibili Inc., Alibaba Health Information Technology Limited, and NetEase, Inc. increased over 2%.
09:01 At the commodity futures market open, the main contracts for BR rubber, bottle chips, and para-xylene rose over 2%. Shanghai nickel, pure benzene, styrene, plastic, and ethylene glycol increased over 1%. Shanghai silver fell over 2%, while Shanghai gold, platinum, glass, international copper, and Shanghai copper declined over 1%.
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