On April 28, A-shares opened lower and fluctuated downwards, with all three major stock indices declining. The ChiNext Index fell over 1%, while the biotech sector experienced a significant surge. Wuxi Apptec rose by the daily limit following its earnings report, and sectors including securities, coal, and real estate rebounded.
Hong Kong stocks also opened lower and continued to decline, with both the Hang Seng Index and the Hang Seng TECH Index dropping. Most technology and internet stocks fell. In the bond market, treasury futures collectively rebounded. In commodities, most domestic commodity futures varieties declined, with polysilicon falling over 4% again. Key market movements:
A-shares: As of writing, the Shanghai Composite Index fell 0.05%, the Shenzhen Component Index declined 0.65%, and the ChiNext Index dropped 0.90%.
Hong Kong stocks: As of writing, the Hang Seng Index decreased 0.33%, and the Hang Seng TECH Index fell 0.65%.
Bond market: Treasury futures rose across the board. As of writing, the 30-year main contract increased 0.29%, the 10-year main contract gained 0.07%, the 5-year main contract rose 0.08%, and the 2-year main contract advanced 0.02%.
Commodities: Most domestic commodity futures varieties declined. As of writing, fuel oil and asphalt bucked the trend, rising 3%. Crude oil, ethylene glycol, the containerized freight index, methanol, and propylene increased over 1%. Bananas, soybean meal, and stainless steel rose, while eggs, Shanghai nickel, rapeseed, industrial silicon, rebar, alumina, Shanghai copper, and Shanghai gold fell. Pulp, hot-rolled coil, coking coal, iron ore, Shanghai aluminum, manganese silicon, Shanghai silver, platinum, and coke dropped over 1%. Palladium, lithium carbonate, Shanghai tin, and caustic soda fell over 3%. Glass declined 3%, and polysilicon continued its downward trend, falling over 4% again.
09:42 Wuxi Apptec's H-shares rose nearly 15%.
09:41 Semiconductor equipment stocks fluctuated and declined sharply. ACM Research (Shanghai) fell over 10%, with Jingchuan Advanced Materials Technology approaching a limit-down. companies including Kingsemi, SICC, and NAURA Advanced Equipment also declined.
09:35 The CRO concept strengthened during the morning session. Wuxi Apptec approached a limit-up, with companies including Asymchem Laboratories, Porton Pharma Solutions, Pharmaron, PharmaBlock Sciences, and HongBo Pharmaceutical following the upward trend.
The latest disclosed Q1 2026 report from Wuxi Apptec showed the company achieved operating revenue of RMB 12.436 billion, a year-on-year increase of 28.81%, marking the first time quarterly revenue exceeded RMB 10 billion. Net profit attributable to shareholders reached RMB 4.652 billion, a year-on-year increase of 26.68%. Both operating revenue and net profit hit record highs for the same period.
09:33 The ChiNext Index dropped over 1%, the Shanghai Composite Index fell 0.23%, and the Shenzhen Component Index declined 0.71%. Sectors including EDA, semiconductor chips, and hotels & tourism led the declines. Nearly 3,500 stocks fell across the Shanghai, Shenzhen, and Beijing exchanges.
09:26 The Shanghai Composite Index opened 0.25% lower, and the ChiNext Index fell 0.69%. Stocks related to photovoltaics, wind power, semiconductors, virtual power plants, AI applications, energy metals, and liquid cooling servers trended lower. CRO, rare earth, and CPO concept stocks strengthened.
09:21 The Hang Seng Index opened 0.43% lower, and the Hang Seng TECH Index fell 0.33%. Contemporary Amperex Technology Co. Limited fell over 6%, with China Hongqiao Group and CMOC Group Limited declining over 3%. Wuxi Apptec rose over 8%.
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