On March 18, the three major A-share indices opened higher collectively. At the time of writing, the Shanghai Composite Index and the Shenzhen Component Index had turned negative.
The memory chip sector performed actively. Tongyou Technology surged by the 20% daily limit. Biwin Storage Technology Co.,Ltd. rose over 8%, continuing to set a new historical high. Netac Technology advanced more than 14%, while Jiangbolong, Beijing Junzheng, Henshine, Purain, and GigaDevice also posted significant gains. The positive movement follows a broad rise in U.S. chip stocks overnight, which boosted sentiment across Asian markets.
The CPO concept saw a volatile rebound. Ruisikangda hit its fourth limit-up in seven sessions. Tianfu Communication, Yuanjie Technology, Dekeli, Shenkeda, Newysun, and Accelink were among the top gainers. The PCB concept strengthened rapidly, with Jinlu Electronics climbing over 15%.
The power sector gained strength, and shipping concepts rose quickly. COSCO Shipping Energy Transportation touched the daily limit-up. China Merchants Energy Shipping, COSCO Shipping Specialized Carriers, and Guohang Ocean Shipping followed the upward trend.
Oil and gas stocks experienced a significant pullback. Intercontinental Oil & Gas briefly hit the daily limit-down. Shandong Molong approached the limit-down, with Tongyuan Petroleum, Zhunyou Shares, and Zhongman Petroleum also declining.
In Hong Kong markets, the Hang Seng Index opened up 0.21%, while the Hang Seng Tech Index rose 0.1%. Both indices had turned negative by the time of writing.
Technology and internet stocks showed mixed performance. Kingdee International gained over 6%, and Bilibili rose more than 3%. Tencent Holdings, Baidu Group, and Alibaba moved lower. Automobile stocks declined, with XPeng and Li Auto falling approximately 3%.
Chip stocks trended higher. Montage Technology rose over 8%, with GigaDevice, Tianshu Zhixin, Shanghai Fudan, and Huahong Semiconductor following the gains. The two leading AI model companies, KNOWLEDGE ATLAS and MINIMAX-WP, saw rapid increases. KNOWLEDGE ATLAS was up over 9%, while MINIMAX-WP advanced more than 11%.
Tencent Music Entertainment Group fell over 20% in Hong Kong trading, quoted at HK$45.2 at the time of writing. This follows a decline of over 24% in its U.S.-listed shares overnight. The movement comes after the company released its fourth-quarter and full-year 2025 financial report yesterday. Revenue for the fourth quarter reached RMB 8.641 billion, a year-on-year increase of 15.9%. However, the monthly active users for its online music service fell to 528 million, down 5% from 556 million in the same period of 2024.
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