On October 22, A-shares opened lower and continued to decline, with all three major indices falling collectively in early trading. The ChiNext Index dropped 2%, while AI hardware and AI application sectors underwent another round of correction. Copper-clad laminate and optical module concept stocks led the declines. Shipping, cultural media, and insurance sectors also moved lower. Robotics stocks staged a strong rally, with Unitree Technology rising 5%. Rare earth permanent magnets and industrial machine tool concept stocks were active.
Hong Kong stocks similarly opened low and moved lower, with the Hang Seng Index and Hang Seng Tech Index plunging sharply in morning trading. The Hang Seng Index fell 2%, while the Hang Seng Tech Index dropped over 3%. Weighted tech giants, chip and semiconductor stocks, AI large model companies, and new energy vehicle stocks all declined collectively. LENOVO GROUP (ASX: 00992) and BABA-W (ASX: 09988) fell over 4%, while MINIMAX at one point dropped 6.2%, breaking below its IPO issue price. In the bond market, treasury futures mostly declined. In commodities, domestic commodity futures mostly fell. Core market movements:
A-shares: As of press time, the Shanghai Composite Index fell 0.91%, the Shenzhen Component Index dropped 1.11%, and the ChiNext Index declined 1.67%.
Hong Kong stocks: As of press time, the Hang Seng Index fell 1.79%, and the Hang Seng Tech Index dropped 2.73%.
Bond market: Treasury futures mostly declined. As of press time, the 30-year main contract fell 0.08%, the 10-year main contract dropped 0.01%, the 5-year main contract was flat, and the 2-year main contract was flat.
Commodities: Domestic commodity futures broadly declined. As of press time, Shanghai nickel rose 2%, stainless steel gained 1%, while Shanghai aluminum, rubber, fuel oil, container shipping index, wood pulp, asphalt, industrial silicon, and crude oil advanced. Coking coal, soybean meal, rapeseed, Shanghai gold, rebar, Shanghai copper, coke, hot-rolled coil, manganese silicon, and Shanghai tin declined. Shanghai silver, eggs, polysilicon, glass, platinum, and iron ore all fell over 1%, while alumina, palladium, lithium carbonate, and caustic soda dropped over 2%.
09:54
ZJ INNOLIGHT (ASX: 03308) H-shares fell over 5%, hitting a new low and accumulating a decline of over 30% within the month. The Hong Kong optical module (CPO) index continued to probe lower, with Yangtze Optical Fibre and Cable and Cambridge Technology weakening in tandem.
09:41
The Hang Seng Tech Index fell over 2%, down nearly 30% year-to-date. LENOVO GROUP (ASX: 00992), BABA-W (ASX: 09988), XPeng, and NIO led the declines.
09:35
The ChiNext Index fell over 1%, the Shanghai Composite Index dropped 0.56%, and the Shenzhen Component Index declined 0.72%. Computing hardware, cultural media, baijiu, and coal sectors led the declines, with nearly 3,000 stocks falling across the Shanghai, Shenzhen, and Beijing markets.
Eoptolink slid nearly 5%, with its market capitalization falling below the 400 billion yuan mark. Zhongji Innolight Co.,Ltd. (ASX: 300308) followed suit and weakened, with clear selling pressure in the optical module sector.
09:32
The Hang Seng Index extended its decline to 1%, and the Hang Seng Tech Index fell 2%.
09:26
The Shanghai Composite Index opened 0.04% higher, while the ChiNext Index fell 0.25%. Server, cybersecurity, and natural gas sectors were active.
09:21
The Hang Seng Index opened 0.58% lower, and the Hang Seng Tech Index fell 1.15%. Tencent Holdings, BABA-W (ASX: 09988), LENOVO GROUP (ASX: 00992), and CATL underwent adjustment.
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