A-shares showed mixed performance, with the Shanghai Composite Index down 0.04% while the ChiNext Index rose over 1%. Leading gainers included computing hardware, retail, Fujian-related stocks, and consumer electronics, while Hainan Free Trade Zone, non-ferrous metals, pharmaceutical commerce, and coal sectors lagged.
By midday on December 9, the Shanghai Composite edged down 0.13%, the Shenzhen Component rose 0.09%, and the ChiNext gained 1.07%. Over 3,500 stocks across Shanghai, Shenzhen, and Beijing exchanges declined, with half-day turnover hitting 1.26 trillion yuan.
Key movers: - Computing hardware stocks extended gains, with Techway and Ultrasonic Electronic hitting limit-up. - Retail shares surged, highlighted by Central Department Store and Maoye Commercial. - Fujian-based stocks remained active, with Anji Food securing six consecutive limit-ups and Longzhou Logistics five. - Commercial aerospace concept stocks retreated after an early rally, though Aerospace Changfeng and Dahua Intelligent still closed limit-up. - Hainan Free Trade Zone stocks weakened, with New Continent A falling by the daily limit.
Major indices at midday: - Shanghai Composite: 3,918.83 (-0.13%) - Shenzhen Component: 13,341.62 (+0.09%) - ChiNext: 3,224.38 (+1.07%) - CSI 300: 4,615.33 (-0.14%) - STAR 50: 1,350.29 (-0.04%) - CSI 500: 7,150.74 (-0.30%) - CSI 1000: 7,412.26 (-0.15%)
Market drivers: The U.S. government reportedly approved Nvidia's restricted H200 AI chip sales to China with additional fees. Nvidia welcomed the move as "a positive step for commercial clients."
Hong Kong markets diverged, with the Hang Seng Index down 0.84% and the Hang Seng Tech Index falling 1.32%. Xiaomi and Baidu dropped over 2%, while new energy vehicle stocks outperformed.
Global context: U.S. indices closed lower ahead of the Fed meeting, with the Dow down 0.45%, Nasdaq off 0.14%, and S&P 500 declining 0.35%.
Commodities mostly fell, with coking coal down 2.92%, while SHFE silver rose 0.25% and containerized freight (Europe route) gained 0.96%.
Treasury futures rose across the board at midday, led by the 30-year contract (+0.35% to 112.480 yuan).
Notable stock moves: - InnoLight Technology surged over 5% to a record high, following net financing repayments of 125 million yuan on December 8. - China's 30-year treasury futures briefly jumped 0.53%, marking the largest gain since November 17 before paring to +0.35%.
Early session highlights: - Commercial aerospace stocks remained active, with Longzhou Logistics extending its limit-up streak to five sessions. - Treasury futures opened higher, with the 30-year contract up 0.41%. - The CSI Convertible Bond Index opened 0.08% lower.
Opening levels: - Shanghai Composite: 3,916.51 (-0.19%) - Shenzhen Component: 13,295.62 (-0.26%) - ChiNext: 3,183.61 (-0.21%)
Hong Kong's Hang Seng opened 0.06% higher at 25,780.97, while the Hang Seng Tech Index fell 0.11%. SMIC, Hua Hong Semiconductor, and Kuaishou dropped over 1%.
Currency/commodities: - CNY midpoint set at 7.0773, down 9 pips. - Commodity futures opened weak, with glass and coking coal down over 2%. - FTSE China A50 futures edged up 0.06% in early trading.
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