A-shares opened lower and extended losses on Monday morning, with the three major indices deepening their declines in early trade. The ChiNext Index fell 2%, while fiberglass, lab-grown diamond, and oil & gas extraction concept stocks showed relative strength. Nonferrous metals, agriculture, and communication equipment sectors led the decline, with copper, nickel, and lithium mining concepts dropping sharply. Computing hardware and chip stocks extended their downward trend.
Hong Kong stocks also opened lower and continued falling, with both the Hang Seng Index and the Hang Seng Tech Index sliding. The Hang Seng Tech Index fell over 1%, as tech stocks, chips, and AI large-model shares all came under pressure. In the bond market, treasury bond futures declined across the board. In commodities, most domestic futures rose, with crude oil and the containerized freight index surging amid escalating geopolitical tensions.
Core market movers:
A-shares: As of writing, the Shanghai Composite Index fell 0.68%, the Shenzhen Component Index dropped 1.38%, and the ChiNext Index was down 1.78%.
Hong Kong stocks: The Hang Seng Index fell 0.74%, while the Hang Seng Tech Index dropped 1.32%.
Bond market: Treasury bond futures fell across the board, with the 30-year main contract down 0.10%, the 10-year contract down 0.03%, the 5-year contract down 0.02%, and the 2-year contract down 0.01%.
Commodities: Domestic commodity futures were broadly higher. Crude oil and the containerized freight index surged over 9%, fuel oil rose 6%, asphalt and coke climbed 3%, while coking coal, glass, and alumina gained over 1%. Pulp, polysilicon, caustic soda, hot-rolled coils, manganese silicon, soybean meal, Shanghai aluminum, and eggs advanced, while rebar, iron ore, stainless steel, and Shanghai nickel declined. Industrial silicon, Shanghai copper, and rubber fell over 1%, while Shanghai tin, Shanghai gold, and lithium carbonate dropped over 2%. Platinum, Shanghai silver, and palladium fell more than 4%.
At 09:50, A-share banking stocks remained steady, with ICBC, China Construction Bank, Bank of China, Bank of Nanjing, Bank of Jiangsu, Bank of Chengdu, and Bank of Qingdao hitting new highs.
By 09:41, the PCB concept rebounded in morning trade, led by the PTFE segment. Wote hit the daily limit up, while Kente, Haohua Technology, Huazheng New Materials, Shandong Fiberglass, and Will followed gains.
At 09:39, the agriculture sector saw volatile adjustments in morning trading, with Hualv Biology falling over 10%. Kangnong Seed, SDIC Fengle, Qiule Seed, Denghai Seed, Sunhold Grain, and Dunhuang Seed all dropped over 5%.
By 09:36, the ChiNext Index fell over 2%, with Zhongji Innolight, Eoptolink, Tianfu Communication, CATL, and Changchuan Technology broadly declining.
At 09:26, the Shanghai Composite Index opened 0.42% lower, while the ChiNext Index dropped 1.35%. Fiberglass, gold, and semiconductor sectors led the decline, while oil & gas, shipping, and coal sectors were strong.
By 09:21, the Hang Seng Index opened 0.19% lower, while the Hang Seng Tech Index fell 0.41%. Lenovo Group, China Construction Bank, and BeiGene were active, the oil & gas sector strengthened, and gold stocks saw notable adjustments.
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