Major A-Share Indices Turn Lower, Fluorochemicals Rally, Semiconductors Slump

China's major A-share indices opened mixed before collectively turning negative, while Hong Kong stocks started lower with the Hang Seng Tech Index extending its decline. Sector-wise, fluorochemical stocks gained strength on expectations of price hikes for electronic-grade hydrofluoric acid, while CPO and short drama game concepts saw intraday rallies. Power stocks retreated notably. In Hong Kong, semiconductor stocks exhibited divergent movements following earnings reports, with Bilibili weakening.

On the 15th, China's major A-share indices opened with mixed performances before collectively turning negative. The STAR 50 Index saw its losses widen to 2%, while both the ChiNext Index and the Shenzhen Component Index fell over 1%.

As of the latest update, the Shanghai Composite Index was down 0.9%, the Shenzhen Component Index fell 1.16%, and the ChiNext Index declined 1.13%.

In terms of market sectors, the fluorochemical concept strengthened on news of price increases. CPO concept stocks and the short drama game sector rallied, while power stocks and semiconductors fluctuated lower.

Hong Kong stocks opened lower, with the Hang Seng Tech Index subsequently extending its decline to 1% and the Hang Seng Index falling 0.57%. SMIC rose over 3%, while HUA HONG SEMI gained over 2% before a sharp intraday reversal saw it drop more than 5%, following their respective earnings releases. Bilibili fell over 4%.

**Fluorochemical Concept Gains Strength** The fluorochemical concept opened strong, with Binzhou Chemical and Zhongxin Fluorochemical Materials hitting the daily limit-up at the open. Zhongjuxin rose over 15%, while Jinshi Resources, Do-Fluoride, Juhua Group, Yonghe Co., and Sanmei Chemical all opened higher. Industry insiders revealed that South Korean anhydrous hydrofluoric acid producers, including Solbrain, ENF Technology, and Huseong, will supply electronic-grade hydrofluoric acid to semiconductor companies including Samsung Electronics and SK Hynix, with prices expected to rise significantly in June and July.

**CPO Concept Stocks Rally Again** CPO concept stocks rallied again, with Mingpu Optoelectronics hitting a straight limit-up. Guangpu Co. rose over 10%, followed by gains in JPT, TKD, Zhongfu Circuit, and Ruijie Networks.

**Short Drama Game Sector Rises** The short drama game sector rose early in the session, with Online and Offline hitting a new intraday high. Gravity Media hit the limit-up, followed by gains in Yue Media, Huazhi Digital Media, Zhewen Interconnect, Tiandi Online, and Easydoit.

**Power Stocks Fluctuate Lower** Power stocks fluctuated lower, with YN Energy and Dalian Thermal Power nearing the daily limit-down. Huayin Power, Shaoneng Co., Yue Electric Power A, and Huadian Liaoneng all fell over 6%.

Updates to follow.