On October 9th, the three major indices opened collectively higher with expanding gains. As of 11:16, the Shanghai Composite Index rose 1.19%, the Shenzhen Component Index gained 1.84%, and the ChiNext Index climbed 1.99%. The Shanghai Composite Index broke through the 3,900-point level for the first time since August 2015. Over 3,200 individual stocks across both markets posted gains, with total turnover reaching 1.65 trillion yuan, expected to increase by 525.7 billion yuan compared to the previous trading day.
The STAR 50 Index surged over 5%, with semiconductor industry chain stocks within its components expanding their rally. Verisilicon Microelectronics(Shanghai)Co.,Ltd. rose over 16%, while Silex Microsystems, Advanced Micro-Fabrication Equipment, Montage Technology, and ACM Research led the gainers.
As of 11:05, FTSE China A50 Index futures jumped 1.37% to 15,302.
By sector, GPU, controlled nuclear fusion, and rare earth stocks topped the gainers, while real estate and short drama concepts led the decliners. ZTE Corporation A-shares hit the daily limit up with trading volume exceeding 12 billion yuan, while its H-shares gained nearly 12% to reach a historical high.
**Multiple Chip Stocks Hit New Highs**
On October 9th, memory chip concepts surged across the board. Hua Hong Semiconductor hit the 20% daily limit, while Advanced Chemical Co., Shenzn Nanshan Power, Tongfu Microelectronics, Satrun Automation, and Taiji Computer Corporation all sealed their daily limits. GigaDevice Semiconductor approached the daily limit and reached a historical high.
Semiconductor and chip sectors led the gains, with the STAR 50 ETF rising 3.31%. Among its holdings, Western Superconducting Technologies surged over 16%, while Silex Microsystems, Hygon Information Technology, Verisilicon Microelectronics(Shanghai)Co.,Ltd., Montage Technology, China Resources Microelectronics, and SMIC gained over 6%.
On the news front, during the National Day holiday, OpenAI and AMD announced a multi-billion dollar chip deal. Under the agreement, OpenAI and AMD will jointly develop AI data centers based on AMD processors.
Additionally, according to financial media reports, global memory chip prices have continued rising over the past six months. CFM Flash Memory Market recently released its Q4 2025 storage market outlook report, indicating that server eSSD prices are expected to rise over 10% in the fourth quarter, while DDR5 RDIMM prices may increase by approximately 10%-15%.
**Gold Stocks Surge**
The main Shanghai gold futures contract opened sharply higher with a gap, breaking through the 900 yuan/gram threshold to reach a historical high. As of 10:45, it traded at 913.5 yuan/gram.
In early trading, non-ferrous metals and gold sectors collectively surged, with Sichuan Gold and Baiyin Nonferrous Metals hitting daily limits, while Sunrise Technology and Zhongjin Gold gained over 7%.
As of 11:00, COMEX gold futures fell 0.81% to $4,037.4/ounce, having cumulatively gained 4.45% during the National Day holiday; COMEX silver futures dropped 1.63% to $48.195/ounce, with a cumulative 3.42% gain during the holiday period.
**Controlled Nuclear Fusion Stocks Rise Strongly**
Controlled nuclear fusion concept stocks performed actively, with Hefei Forging Machine achieving its second consecutive daily limit, followed by gains in Western Superconducting Technologies, Harbin Welding Institute, Changzhou Changsu Hydraulic Equipment, and China National Nuclear Corporation Science & Technology. On the news front, according to media reports, China's nuclear fusion device BEST has begun comprehensive construction of its main unit. This device will be the first internationally to verify and demonstrate nuclear fusion power generation, with China potentially using nuclear fusion for power generation by 2030.
**Rare Earth Concepts Rise Collectively**
Rare earth concept stocks performed actively. As of 10:35, Inner Mongolia Baotou Steel Union rose over 8%, while China Northern Rare Earth Group gained over 6%. On the news front, the Ministry of Commerce released two new announcements on October 9th, announcing decisions to implement export controls on rare earth-related technologies and related rare earth items abroad.
(Disclaimer: Article content is for reference only and does not constitute investment advice. Investors operate at their own risk.)
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