On April 8, the A-share market staged a strong rebound in the morning session. The ChiNext Index rose over 4%, while the STAR 50 Index surged more than 5%. The Shenzhen Component Index gained over 3%, and the Science and Technology Innovation Composite Index climbed more than 4%. Market hotspots rotated rapidly, with over 5,000 stocks advancing across the board.
By sector, the CPO concept led the gains. Mingpu Magnetic and Dongshan Precision both hit the daily limit up. Changxin Bochuang rose over 10%, continuing to set new historical highs. The leading optical module manufacturer, Zhongji Innolight Co.,Ltd., surged over 8%, refreshing its record high and pushing its total market capitalization past 740 billion yuan. The stock has accumulated an increase of over 830% in the past year. According to reports, TSMC indicated that its silicon photonics integration platform, COUPE, is expected to achieve full-scale mass production within the year. This is viewed by the industry as a significant milestone marking the CPO sector's transition from technical validation to commercial deployment.
Precious metals collectively rose substantially. Xiaocheng Technology advanced nearly 13%, while Western Gold and Zhaojin Gold both reached the daily limit up. The AI application sector continued its upward trend, with Zhisheng Information hitting the 30cm limit up and BlueFocus achieving the 20cm limit up. The computing power leasing concept strengthened, with Dawei Technology, Xingyun Technology, Auroda, Hanggang Co., Ltd., and Huafu Fashion all hitting the daily limit up.
On the downside, oil and gas stocks suffered heavy losses. Lanyan Holdings opened limit-down, with Zhouji Oil & Gas, Shouhua Gas, China National Offshore Oil Corporation, and Guanghui Energy all falling over 8%.
Regarding individual stocks, the high-flying stock Shannoncore, which had already multiplied several times, extended its gains, currently up over 16%. The company forecasts its net profit for the first quarter of 2026 could increase by up to 87 times. Jinyao Pharmaceuticals quickly hit the limit up after market open but subsequently reversed gains and turned negative, currently down approximately 5%, failing to achieve an eighth consecutive limit-up session. The company issued an urgent risk warning the previous night.
In the Hong Kong market, the Hang Seng Index rose 2.7%, and the Hang Seng Tech Index gained over 4%. Technology and internet stocks rebounded sharply. Meituan and SenseTime both rose over 8%, while Kingdee International and JD Health advanced over 6%. Semiconductor stocks soared, with ILUVATAR COREX skyrocketing 26%. Hua Hong Semiconductor, Tianyue Advanced, and Lanke Technology all rose over 11%. The AI Application Index jumped, with Zhipu rising over 16% and MiniMax-W gaining over 7%.
Looking ahead, Shenyin & Wanguo Futures believes that the easing of US-Iran tensions, following an agreement for a two-week ceasefire, has significantly boosted market sentiment and revived risk appetite, alleviating pressure on precious metals. From a medium to long-term perspective, the restructuring of the global political and economic order, concerns over US fiscal sustainability, and the de-dollarization trend prompted by potential interference with Federal Reserve independence are expected to continue driving global central banks to increase gold reserves. The upward trend in the price center for precious metals remains intact. Under the combined effect of industrial and financial attributes, silver, platinum, and palladium may exhibit greater volatility.
Southwest Futures also emphasized in its latest report that the current complex global trade and financial environment, alongside the major trends of "de-globalization" and "de-dollarization," benefits gold's allocation and safe-haven value. Gold purchasing by various central banks also provides support for gold's performance. The medium to long-term logic for precious metals remains robust. Following the substantial previous increases, market pricing is relatively full. The significant uncertainty surrounding the Iran situation is expected to lead to markedly amplified market volatility, suggesting a cautious, wait-and-see approach for now.
Regarding the oil and gas sector, Haicheng Futures posits that even if the Strait of Hormuz reopens, it would take several months for oil transportation to fully resume. The institution estimates that Middle East oil production cuts caused by the strait blockade will increase to 9.1 million barrels per day in April. The average spot price for Brent crude within the year could reach $96 per barrel, significantly higher than the previous forecast of $78.84.
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