On February 24, Chinese A-shares opened higher in the morning session, with the three major indices climbing after initial fluctuations. The oil & gas and precious metals sectors led the gains, while computing hardware stocks were also active. In contrast, film and television stocks declined broadly. Hong Kong's market moved lower at the open and extended losses, with the Hang Seng Tech Index dropping over 2% as technology and internet stocks fell across the board. In the bond market, government bond futures rose across the board. For commodities, most domestic futures advanced, with Shanghai silver surging over 10%.
**Key Market Performance:**
A-shares: As of the latest update, the Shanghai Composite Index was up 0.76%, the Shenzhen Component Index rose 1.24%, and the ChiNext Index gained 1.01%.
Hong Kong stocks: The Hang Seng Index fell 1.82%, while the Hang Seng Tech Index declined 2.50%.
Bond market: The 30-year government bond futures contract increased 0.27%, the 10-year contract rose 0.09%, the 5-year contract advanced 0.12%, and the 2-year contract edged up 0.03%.
Commodities: Shanghai silver futures jumped over 10%, the containerized freight index rose more than 10%, lithium carbonate climbed 7%, palladium and platinum gained over 4%, while Shanghai gold, fuel oil, asphalt, and rubber increased more than 3%. Pulp, stainless steel, Shanghai tin, and Shanghai aluminum also rose over 1%.
**10:07 Update:** The chemical sector continued to strengthen during the session, with phosphate and pesticide-related stocks performing well. Companies such as Kingenta, Hebon Bio, Jinniu Chemical, Chengxing, and Jinpu Titanium hit the daily upside limit. Sichuan Development Lomon, Yuntianhua, Yuntu Holdings, and Hubei Yihua were among the top gainers.
Catalysts included a U.S. announcement on February 18, 2026, designating phosphorus and glyphosate as strategic resources. Additionally, India's urea tender reached a new high, with prices on the east coast at $512 per ton CFR and the west coast at $508 per ton CFR, up approximately $85 per ton from the January tender—equivalent to around RMB 3,500 per ton.
**09:41 Update:** Oil and gas stocks rallied across the board, with Tongyuan Petroleum, Zhunyi Energy, Zhongman Petroleum, Shandong Molong, and Geo-Jade Petroleum all surging by the daily limit.
**09:39 Update:** A-share film and television stocks fell sharply in early trading. Enlight Media, Bona Film Group, China Film, Hengdian Entertainment, and Jinyi Film touched the daily decline limit. Shanghai Film and Wanda Film approached the limit, while Happiness Blue Ocean dropped over 15%.
**09:37 Update:** China Tourism Group Duty Free hit the daily decline limit, with turnover exceeding RMB 20 billion.
**09:34 Update:** The Hang Seng Tech Index fell 2% intraday. Kingdee International dropped over 8%, and Tencent Music declined more than 4%.
**09:26 Update:** The Shanghai Composite Index opened 1.15% higher, while the ChiNext Index rose 1.7%.
Gold and oil sectors led the gains, with stocks related to Yushu Robotics, energy metals, CPO, ultra-high voltage power transmission, consumer electronics, and semiconductors showing activity. Duty-free shops, short drama gaming, and seedance-themed stocks weakened.
**09:21 Update:** The Hang Seng Index opened 0.62% lower, and the Hang Seng Tech Index fell 1.02%. Most technology and internet stocks declined, with Tencent Music down over 3%, Bilibili off more than 2%, and SMIC, Baidu Group, and Alibaba among the top losers.
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