On September 29, A-share markets traded lower in morning session, with the three major indices collectively reversing early gains after an initial rally. The micro-cap stock index rebounded, the real estate sector surged, cultural media and biotechnology sectors advanced, and concept stocks related to innovative drugs, CRO, and PCB rallied. Concept stocks in cultivated diamonds, glass substrates, and coal mining fell into correction, while shipping, oil and natural gas, and precious metals sectors continued to underperform.
Hong Kong stocks opened lower and moved downward in morning trading, with both the Hang Seng Index and Hang Seng Tech Index declining. The Hang Seng Tech Index dropped over 1%, while the Hang Seng Biotech Index rebounded 2%. Biopharmaceutical stocks rose, with AKESO (HKEX: 09926) surging over 10%. Most heavyweight internet stocks declined, and new energy vehicle shares fell sharply, with NIO Inc. (NYSE: NIO) and Geely among the biggest decliners. In the bond market, treasury futures mostly advanced. In commodities, domestic futures broadly declined, with precious metals futures leading losses. Core market movements:
A-shares: As of press time, the Shanghai Composite Index fell 0.05%, the Shenzhen Component Index rose 0.15%, and the ChiNext Index gained 0.09%.
Hong Kong stocks: As of press time, the Hang Seng Index fell 0.30%, and the Hang Seng Tech Index dropped 0.83%.
Bond market: Treasury futures mostly rose. As of press time, the 30-year main contract was flat, the 10-year main contract rose 0.03%, the 5-year main contract gained 0.03%, and the 2-year main contract added 0.02%.
Commodities: Domestic commodity futures mostly declined. As of press time, asphalt and coke rose over 1%, while tin, rebar, industrial silicon, coking coal, wood pulp, fuel oil, stainless steel, hot-rolled coil, and glass posted small gains. Aluminum, copper, manganese silicon, iron ore, nickel, lithium carbonate, caustic soda, rapeseed, and soybean meal declined. Polysilicon, gold, alumina, and palladium fell over 1%, while container shipping index, platinum, silver, rubber, eggs, and crude oil dropped over 2%.
10:11
Real estate stocks continued to surge, with China Vanke Co.,Ltd. (SZSE: 000002) touching the daily limit up. Xinda Real Estate, Shenzhen Properties A, Hualian Holdings and other stocks hit the ceiling, Tefa Service rose over 13%, while Binjiang Group, Greenland Holdings, China Merchants Shekou, and Gemdale Corporation followed the rally.
09:48
New stock N Anda expanded its intraday gain to 345%, triggering a second temporary trading halt, with turnover exceeding 200 million yuan.
09:47
In early trading, innovative drug concept stocks fluctuated upward. Nearshore Protein rose over 6%, hitting a new all-time high. Previously, Jinyao Pharmaceutical posted two consecutive limit-ups, while Baihua Pharmaceutical, Kanghong Pharmaceutical, InnoStar, Yifang Biotech, and Betta Pharmaceuticals followed the gains.
On the news front, on September 28, Shanghai Siprui and Merck jointly announced a global exclusive licensing agreement for the preclinical oral KRAS G12D (ON) inhibitor SPR2015. The potential total deal value is $2.13 billion, including $400 million in upfront payment, with the remainder tied to development and commercialization milestones.
09:43
As of press time, AKESO (HKEX: 09926) rose 11% to a more than one-month high, with turnover of HK$1.1 billion.
Recently, Akeso's globally first-in-class tumor immunotherapy 2.0 cornerstone drug ivonescimab presented the latest overall survival data from the HARMONi-2 study at the 2026 World Conference on Lung Cancer (WCLC). According to Akeso, compared with Merck's pembrolizumab, ivonescimab significantly extended median overall survival to 30.8 months, versus 22.6 months for pembrolizumab.
09:41
Cybersecurity concept stocks fluctuated upward. Zhongxin Saike posted its third limit-up in five days, while Qiming Information, Gaoling Information, Yongxin Zhichneg, and Qi An Xin followed the gains.
On the news front, Nvidia released an open agent security platform, which consists of OpenShell open-source software and the Sentry reference system design. The Sentry system runs on the BlueField-4 DPU, capable of continuously monitoring agent behavior and isolating anomalies within milliseconds.
09:37
In early trading, PCB concept stocks fluctuated and rebounded. Yidun Electronics hit the limit up, while Aoshikang, Xunjiexing, Sihui Fuji, Jinbaize, and Chaozhou Three-Circle followed the gains.
09:35
The power sector showed active performance. Zhejiang Xinneng posted two consecutive limit-ups, Ningbo Energy surged to the limit up, while Zhongmin Energy, Guangdong Electric Power A, and Yinxing Energy followed the gains.
09:27
The Shanghai Composite Index opened 0.2% lower, and the ChiNext Index fell 0.11%. Precious metals and communication equipment sectors led losses, while real estate and catering tourism indices rose.
09:25
GAC Group resumed trading and hit the limit up, as the company plans to issue shares to acquire a 50% stake in FAW Toyota.
09:21
The Hang Seng Index opened 0.02% higher, with healthcare and energy sectors leading gains. The Hang Seng Tech Index fell 0.21%, and NIO Inc. (NYSE: NIO) dropped over 2%.
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