On June 4th, Chinese A-shares experienced a volatile decline, with the three major indexes opening lower. The ChiNext Index fell by 1%, while the semiconductor and chip sectors showed notable activity, with gains seen in memory, semiconductor materials, and equipment. In contrast, sectors like non-ferrous metals and the new energy battery supply chain underwent collective adjustments.
Hong Kong stocks similarly opened lower and continued to fall, with both the Hang Seng Index and the Hang Seng Tech Index dropping over 1%. Technology and internet stocks extended their losses, while semiconductor and chip shares demonstrated strength against the broader downtrend. Hua Hong Semiconductor Ltd rose nearly 4%, and GigaDevice Semiconductor (Beijing) Inc gained 5%.
In the bond market, treasury futures declined across the board. Commodity markets also saw a majority of domestic futures contracts trading lower. The core market movements are as follows:
A-Shares: As of the latest update, the Shanghai Composite Index was down 0.16%, the Shenzhen Component Index was up 0.09%, and the ChiNext Index had fallen 0.41%.
Hong Kong Stocks: As of the latest update, the Hang Seng Index was down 0.96%, and the Hang Seng Tech Index had declined 1.00%.
Bond Market: Treasury futures were uniformly lower. As of the latest update, the 30-year front-month contract was down 0.18%, the 10-year contract fell 0.07%, the 5-year contract dropped 0.04%, and the 2-year contract declined 0.02%.
Commodities: Domestic commodity futures were broadly lower. As of the latest update, coking coal, coke, eggs, rapeseed, ferrosilicon manganese, asphalt, and crude oil bucked the trend to move higher. Hot-rolled coil, rebar, industrial silicon, Shanghai gold, soybean meal, alumina, fuel oil, and pulp were among the varieties that fell. Shanghai tin, iron ore, caustic soda, glass, polysilicon, Shanghai aluminum, Shanghai copper, the containerized freight index, lithium carbonate, and rubber all registered declines exceeding 1%. Platinum, stainless steel, Shanghai silver, Shanghai nickel, and palladium saw drops exceeding 2%.
At 09:55, the CPO (Co-packaged Optics) concept rebounded intraday. Dongshan Precision Manufacturing Co.,Ltd. surged over 7%, hitting a new historical high with its total market capitalization surpassing 440 billion yuan. Following this, Jiangsu Tianyang New Material Co.,Ltd. achieved its third consecutive limit-up, Sanan Optoelectronics Co.,Ltd. hit the daily limit-up, while Universal Scientific Industrial (Shanghai) Co.,Ltd., Shenzhen Yitian Technology Co.,Ltd., Taicang T&G Communication Equipment Co.,Ltd., and Cambridge Industries Group followed with gains.
At 09:48, the liquid cooling server concept was active. Chunghsin Technology Group Co.,Ltd. hit the daily limit-up, with Dayuan Pump Industry Co.,Ltd., Euronext Technology Co.,Ltd., Feilong Auto Parts Co.,Ltd., and Qiangrui Technology Co.,Ltd. also advancing.
At 09:36, the MLCC (Multi-Layer Ceramic Capacitor) concept showed repeated strength. Shuangxing New Material Co.,Ltd. hit the daily limit-up, Hongda Electronics Co.,Ltd. surged over 15%, while Shenzhen Lihexing Technology Co.,Ltd., Chengdu Hongming Electronics Co.,Ltd., Yunzhong Technology Co.,Ltd., and Jiemei Technology Co.,Ltd. followed suit.
At 09:34, the power sector continued its strong performance in early trading. Henan Yueneng Holding Co.,Ltd. marked its second consecutive limit-up, reaching a new historical high. Guangxi Energy Co.,Ltd. touched the limit-up, with Baitong Energy Co.,Ltd., Zhejiang Xzhonggang Thermal Power Co.,Ltd., Jingneng Power International Development Co.,Ltd., and Xichang Electric Power Co.,Ltd. also rising.
At 09:26, the Shanghai Composite Index opened 0.74% lower, and the ChiNext Index opened down 1.22%. Concept stocks related to CPO, lithography machines, PCBs, semiconductors, AI computing power, GPUs, and lithium batteries saw pullbacks. Sectors such as oil and gas, non-ferrous metals, cultural media, chemicals, and power led the declines.
At 09:21, the Hang Seng Index opened 0.66% lower, and the Hang Seng Tech Index opened down 1.23%. Lenovo Group Ltd fell over 5%. BYD Company Limited, NIO Inc., and Kingdee International Software Group Company Limited dropped over 3%. bilibili Inc. declined over 2%.
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