China's A-share markets opened broadly lower on July 28, with the three major indexes declining in early trade. The Shenzhen Component Index fell over 1%, while the ChiNext Index dropped more than 3%. The computing hardware supply chain took a collective hit, with sectors such as optical modules, optical chips, and optical circuit switches leading the losses. Memory chip stocks also faced pressure, with ChangXin Technology opening more than 7% lower, before paring its decline and currently nearing a recovery to flat. Sectors including energy equipment and coal also moved lower. In contrast, the lithography equipment concept surged sharply, with Wavelength Optoelectronics hitting the 20% daily limit up. The brain-computer interface sector remained active, while real estate, catering, and tourism stocks strengthened.
Hong Kong stocks opened higher and extended gains, with both the Hang Seng Index and the Hang Seng Tech Index rising in early trade. The Tech Index climbed over 1%, as major tech and internet stocks continued their collective rebound. Meituan, JD.com, Alibaba, and Tencent (TENCENT) all moved higher. However, the new consumption concept experienced a sharp decline, with LAOPU GOLD falling 16%. AI model stocks remained under pressure, with Zhipu and MINIMAX both declining.
In the bond market, treasury bond futures fell across the board. In the commodity market, Chinese commodity futures broadly declined, with fuel oil and crude oil continuing their sharp sell-off, following the overnight drop in international oil prices.
Core Market Movements:
A-shares: As of writing, the Shanghai Composite Index fell 0.55%, the Shenzhen Component Index was down 2.01%, and the ChiNext Index dropped 3.12%.
Hong Kong Stocks: As of writing, the Hang Seng Index rose 0.39%, and the Hang Seng Tech Index gained 1.51%.
Bonds: Treasury bond futures fell across the board. As of writing, the 30-year main contract was down 0.13%, the 10-year main contract dropped 0.02%, the 5-year main contract fell 0.02%, and the 2-year main contract slid 0.01%.
Commodities: Chinese commodity futures were broadly lower. As of writing, only a few varieties like eggs and lithium carbonate rose. Aluminum, Copper, Industrial Silicon, Manganese Silicon, Palladium, Iron Ore, Rubber, Paper Pulp, Hot Rolled Coil, Rebar, Rapeseed, and Nickel declined. Platinum, Gold, Polysilicon, Stainless Steel, Soybean Meal, Alumina, Caustic Soda, Coke, and Tin fell over 1%. Asphalt, Glass, Silver, and Coking Coal dropped over 2%. Fuel Oil and Crude Oil continued to fall sharply, plunging over 5%.
09:31
In early trading, the brain-computer interface concept continued its strong momentum. Innovation Medical achieved its second daily limit in four days, while Hainan Haiyao, Nanjing Panda, AiPeng Medical, and Sailei Medical also followed higher.
09:31
The lithography equipment concept opened sharply higher. Shanghai Zhangjiang Hi-Tech Park Development Co.,Ltd. (Shanghai Zhangjiang Hi-Tech Park Development Co.,Ltd.), Wavelength Optoelectronics, Yongxin Optics, and Haili Shares hit the daily limit up at the opening bell. MaoLai Optics, Xinlai Yingcai, Dongfang Jiasheng, and JiaXian Shares also posted strong gains.
09:26
The Shanghai Composite Index opened 0.91% lower, while the ChiNext Index fell 3.12%. The computing hardware supply chain weakened, with memory chips, CPO, and PCB sectors leading the decline. Photovoltaic and humanoid robot concept stocks also fell sharply. The lithography equipment theme strengthened against the broader market trend. ChangXin Technology opened more than 7% lower.
09:21
The Hang Seng Index opened 0.26% higher, and the Hang Seng Tech Index rose 0.64%. Li Auto, NetEase, JD.com, and Bilibili moved higher. LAOPU GOLD fell nearly 13%. Zhipu and MINIMAX dropped over 5%, while Hua Hong Semiconductor fell over 4%.
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