Despite opening lower across the board due to pressure from overseas markets, China's A-share market showed no signs of panic this morning. The indices quickly reversed course after the opening bell, turning positive and demonstrating a trajectory independent of global markets. As of 10:00, the Shanghai Composite Index was up a modest 0.12% to 4118.62 points, the Shenzhen Component Index rose 0.69% to 14253.52 points, while the ChiNext Index displayed notable strength, climbing 1.14% to 3315.43 points. Precious metals, semiconductors, and motor sectors led the gains, whereas previously popular sectors like AI applications and commercial aerospace experienced a pullback.
Overnight, overseas markets were anything but calm. The three major U.S. stock indices fell sharply across the board, with the S&P 500 dropping 2.06%, marking its largest single-day decline since last October. The Dow Jones Industrial Average fell 1.76%, and the Nasdaq Composite Index declined 2.39%. Major European stock markets also followed suit with losses.
The precious metals sector continued its strong performance, with Hunan Silver hitting its second consecutive daily limit-up. Shengton Mining, Zhongjin Gold, Xiaocheng Technology, and Sichuan Gold also advanced. The surge is attributed to rising demand for safe-haven assets amid escalating geopolitical tensions, pushing gold and silver prices to new highs. Spot silver surged to $95.89 per ounce yesterday, setting another record high, while spot gold broke through $4830 per ounce during today's session, also reaching a new all-time peak.
The lithium mining concept saw a volatile rebound, with Shengxin Lithium Energy hitting the daily limit-up. Dazhong Mining, Tianhua New Energy, Yongxing Materials, Zhongkuang Resources, and Rongjie Co., Ltd. were among the top gainers. This movement follows a more than 5% intraday surge in the Guangzhou Futures Exchange's lithium carbonate main contract, which briefly exceeded 164,000 yuan per ton.
The generator concept sector was active, with Weichai Heavy Machinery and Power New Technology both hitting the daily limit-up. Xinchai Co., Ltd. rose over 7%, and Ketai Power gained more than 4%. Merchants Securities pointed out that demand for data center construction continues to grow, while the supply side faces dual constraints from energy and equipment bottlenecks. The primary bottleneck stems from power supply, where diesel generator sets play an irreplaceable role in providing system-level backup power security.
The real estate sector maintained its strength, with Cheng Tou Holdings securing its second consecutive limit-up. Jingneng Property, Vanke A, Shenzhen Zhenye A, and Da Ming City also surged. This follows a joint announcement by the Ministry of Finance and two other departments to extend the preferential individual income tax policy supporting residents' home purchases until the end of 2027. The policy stipulates that taxpayers who repurchase a home within one year of selling their original property can enjoy a tax refund, with the refund amount determined by the transaction value ratio of the old and new homes.
The humanoid robot concept advanced rapidly, with An Pei Long surging over 10%. Haozhi Electromechanical and Founder Motor each rose more than 5%. Zhejiang Rongtai, Wanxiang Qianchao, Rongtai Co., Ltd., Wolong Electric Drive, Zhenyu Technology, Changying Precision, Wuzhou Xinchun, and Orbbot followed with gains. This movement is supported by data released on January 19th from the National Bureau of Statistics website, indicating that by 2025, new economic growth drivers like embodied intelligence and human-machine collaboration will fuel rapid development in the robotics field. Output of products such as robot reducers, industrial robots, and service robots is projected to grow by 63.9%, 28.0%, and 16.1% respectively.
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