On February 6th, Chinese A-shares opened lower but reversed course, with the three major indices initially falling over 1% before climbing into positive territory. Chemical and traditional Chinese medicine stocks showed strong activity, while the baijiu sector saw a full adjustment and computing hardware stocks declined again. Hong Kong's market continued its adjustment, with the Hang Seng Index dropping over 1.5% and the Hang Seng Tech Index initially falling more than 2%. Technology and internet stocks extended their losses, though new energy vehicle stocks rebounded.
In the bond market, government bond futures trended higher. In commodities, most domestic futures contracts fell, with Shanghai silver dropping over 13%. Platinum, palladium, and other metal futures continued their decline. Key market movements as of writing:
A-shares: The Shanghai Composite Index rose 0.19%, the Shenzhen Component Index gained 0.47%, and the ChiNext Index advanced 0.26%.
Hong Kong stocks: The Hang Seng Index fell 1.52%, and the Hang Seng Tech Index declined 1.06%.
Bond market: Government bond futures were mixed. The 30-year main contract rose 0.27%, the 10-year main contract increased 0.05%, while the 5-year and 2-year main contracts were flat.
Commodities: Most domestic commodity futures fell. Shanghai silver dropped 13.5%, platinum fell 9%, palladium declined 6%, and Shanghai tin decreased 5%. Rapeseed and caustic soda fell over 3%, while Shanghai nickel, Shanghai gold, coke, and Shanghai copper dropped more than 2%. Glass and industrial silicon fell over 1%. Shanghai aluminum, iron ore, the containerized freight index, coke, pulp, stainless steel, and rebar also declined.
At 10:34, precious metal concepts saw a partial recovery. Hunan Gold achieved its seventh涨停 limit in ten days, while CHJ Group touched the涨停 limit. CHU Hua Jewelry, Xiaocheng Technology, China Gold, Sichuan Gold, and Huayu Mining followed with gains. Spot silver rose over 2% intraday after an earlier drop of nearly 10%, and spot gold prices returned above $4,800 per ounce.
At 10:32, the SDIC Silver LOF hit the跌停 limit upon opening, now quoted at 3.099 yuan, with its premium rate falling to 28.73%. This marks the fifth consecutive跌停 limit for the fund.
By 10:27, both the Shanghai and Shenzhen Composite Indices had turned positive after earlier declines exceeding 1%. Traditional Chinese medicine, chemicals, power grid, and quantum technology sectors led the gains, with nearly 3,700 stocks advancing across the Shanghai, Shenzhen, and Beijing exchanges.
At the 9:27 opening, traditional Chinese medicine stocks surged. Panlong Pharmaceutical and Teyi Pharmaceutical hit the涨停 limit during the call auction, while Shenggu Pharmaceutical and Guangdong Wannianqing rose over 10%.
At the 9:26 opening, the Shanghai Composite Index opened 0.87% lower, and the ChiNext Index fell 1.15%. Gold and base metal sectors pulled back again, while semiconductor and computing hardware industry chains continued to decline. Oil and gas, chemicals, and coal were among the biggest losers. Commercial aerospace, photovoltaic, and humanoid robot themes also underperformed.
At 9:21, the Hang Seng Index opened 1.97% lower, and the Hang Seng Tech Index fell 2.42%. Baidu and Kingdee International dropped over 4%. Alibaba, Kuaishou, Bilibili, and Huahong Semiconductor declined more than 3%.
Comments