On July 24th, China's A-share markets opened lower and continued to fall in early trading, with all three major indexes declining at the start. The Shenzhen Component Index fell nearly 1%, while the ChiNext Index dropped over 2% at one point. The semiconductor supply chain rebounded, with stocks related to semiconductor equipment, ChangXin Memory Technologies (CXMT), and SMIC's supply chain gaining momentum. Sectors such as energy equipment, military industry, and banking also strengthened. Non-ferrous metals, electric power, and computing hardware segments experienced pullbacks.
Hong Kong stocks also opened lower and fell further, with the Hang Seng Index and the Hang Seng Tech Index both declining over 1%. Tech stocks broadly dropped, with Alibaba, Tencent, Kuaishou, Meituan, and JD.com all moving lower. AI large-model stocks rebounded against the trend, with Zhipu AI surging over 8% at one point. In the bond market, government bond futures showed mixed performance. For commodities, most domestic commodity futures fell, with precious metals like Shanghai gold and silver leading the declines. Key market movements are as follows:
A-shares: As of press time, the Shanghai Composite Index fell 0.83%, the Shenzhen Component Index fell 0.93%, and the ChiNext Index fell 0.76%.
Hong Kong stocks: As of press time, the Hang Seng Index fell 1.10%, and the Hang Seng Tech Index fell 1.05%.
Bond market: Government bond futures fell across the board. As of press time, the 30-year main contract fell 0.05%, the 10-year main contract rose 0.01%, and the 5-year and 2-year main contracts were flat.
Commodities: Domestic commodity futures generally fell. As of press time, crude oil rose nearly 5%, fuel oil rose 1%, while a few varieties such as coking coal, asphalt, industrial silicon, and coke moved higher. Aluminium oxide, the container shipping index (European line), Shanghai nickel, manganese silicon, soymeal, hot-rolled coil, Shanghai aluminium, caustic soda, rebar, eggs, stainless steel, paper pulp, iron ore, glass, and rubber all declined. Shanghai copper, polysilicon, lithium carbonate, and Shanghai tin fell over 1%, with Shanghai gold, Shanghai silver, platinum, and palladium leading the losses.
10:04 AM
The advanced packaging concept rebounded during intraday trading. Guangli Technology hit the 20% daily limit up, while Tongfu Microelectronics, Xinqi Microelectronics, Gaode Infrared, Guangzhi Technology, and Huatian Technology followed with gains.
09:54 AM
Stocks related to the ChangXin Memory Technologies (CXMT) supply chain surged. Hefei Urban Construction Development Co., Ltd. hit the daily limit up, while Langdi Group, Do-Fluoride New Materials, and Skyverse Technology also moved higher.
On July 23rd, Cxmt Corporation released its listing announcement, confirming it will list on the Science and Technology Innovation Board (STAR Market) of the Shanghai Stock Exchange on July 27, 2026, under the stock code 688825.
09:47 AM
The innovative drug concept fell sharply. Harbin Pharmaceutical Group hit the daily limit down, while Bebetter, Joinn Laboratories, Huisheng Bio, Harsin, Shanghai Kaibao Pharmaceutical, and Xinganjiang Pharmaceutical followed with declines.
09:46 AM
The semiconductor equipment concept showed active performance. Pnc Process Systems Co., Ltd. hit the daily limit up, Torrence rose over 12%, and Qiangyi Co., Ltd., Changchuan Technology, and Huaya Intelligent Equipment followed with gains.
On the news front, according to a report from the global Semiconductor Equipment and Materials International (SEMI), global semiconductor equipment sales are expected to grow by 23.2% to $165.9 billion in 2026, and will reach a record high of $229.5 billion by 2028.
09:39 AM
The military industry sector continued to strengthen against the trend in early trading. Anhui Greatwall Military Industry Co.,Ltd. hit its second consecutive daily limit up, while Huakang Technology, Jianshe Industry, Aerospace Nanhu, Inner Mongolia First Machinery Group, and Jianglong Shipbuilding followed with gains.
09:32 AM
The ChiNext Index fell over 2%. Sectors such as non-ferrous metals, semiconductor chips, and computing hardware were among the top decliners. Nearly 4,400 stocks across the Shanghai, Shenzhen, and Beijing markets fell.
09:26 AM
The Shanghai Composite Index opened 0.6% lower, and the ChiNext Index fell 1.68%. The semiconductor supply chain continued its weak performance, with segments like semiconductor silicon wafers, advanced packaging, and copper-clad laminates leading the declines. The precious metals sector experienced a deep pullback. Meanwhile, international oil prices surged, leading to a strong rebound in the oil and energy equipment sectors.
09:21 AM
The Hang Seng Index opened 1.1% lower, and the Hang Seng Tech Index fell 1.86%. Tech stocks were among the top decliners, with Alibaba falling nearly 3%. New energy vehicle makers were weak, with NIO dropping over 3%. Oil stocks rebounded against the trend.
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