On July 15th, A-shares experienced a volatile morning session, trending upward overall. The biopharmaceutical sector saw a strong breakout, with significant gains in innovative drugs and CRO (Contract Research Organization) segments. The baijiu (white liquor) sector was also active. However, energy equipment and non-ferrous metals sectors retreated. Semiconductor, advanced packaging, and GPU concept stocks underwent adjustments, dragging down the tech-heavy STAR 50 Index by over 2%.
Hong Kong markets also fluctuated higher, with both the Hang Seng Index and Hang Seng Tech Index rising. Most technology and internet stocks rebounded, and AI large model stocks staged a counterattack, with Zhipu AI surging nearly 10% and MINIMAX soaring 14%. The biotech sector surged over 4%.
In the bond market, most treasury futures rose. In commodities, most domestic commodity futures were up. Key market movements were as follows:
A-Shares: As of writing, the Shanghai Composite Index rose 0.15%, the Shenzhen Component Index gained 0.37%, and the ChiNext Index advanced 0.61%.
Hong Kong Shares: As of writing, the Hang Seng Index increased 0.59%, while the Hang Seng Tech Index edged up 0.01%.
Bonds: Treasury futures were mostly lower. As of writing, the 30-year front-month contract rose 0.03%, the 10-year contract was flat, the 5-year contract was unchanged, and the 2-year contract fell 0.01%.
Commodities: Domestic commodity futures broadly rose. As of writing, fuel oil surged nearly 5%, palladium and crude oil gained over 3%, asphalt and platinum rose 2%, while SHFE silver, SHFE tin, rebar, pulp, and hot-rolled coil increased 1%. Iron ore, stainless steel, alumina, coking coal, SHFE copper, coke, soybean meal, SHFE gold, silicon manganese, rubber, lithium carbonate, rapeseed, and other varieties all moved higher. A few varieties, including caustic soda, SHFE aluminum, industrial silicon, containerized freight index, SHFE nickel, glass, polysilicon, and eggs, declined.
10:26 Update
The ChiNext Index rose over 1%.
10:05 Update
The pharmaceutical sector continued its intraday gains, with innovative drugs and CXO (Contract X Organization) segments leading the advance. Biovalley surged 30% to hit the limit-up, while Harbin Pharmaceutical Group Co. Ltd. previously reached its 4th consecutive limit-up. Bioray Laboratories, Inc., Dizal Pharmaceutical, GenScript ProBio, Hainan Haiyao Co., Ltd., and Baihua Pharmaceutical Co., Ltd. were among the many stocks hitting the limit-up. Deyuan Pharmaceutical, Wanbang Pharmaceutical, Changshan Pharmaceutical, and CSPC Innovation Pharmaceutical Co., Ltd. rose over 10%.
09:56 Update
Optical fiber concept stocks opened broadly higher, with Yangtze Optical Fibre And Cable Joint Stock Limited Company hitting the limit-up. Guangshen Technology, Changxin Boke, Changjiang Communication, Tongding Interconnection, and Changyingtong followed with gains.
On the news front, Yangtze Optical Fibre And Cable Joint Stock Limited Company announced an estimated H1 2026 net profit attributable to shareholders of 2.4 to 3.0 billion yuan, representing a year-on-year increase of 711% to 914%. The company attributed this to accelerated construction of computing power data centers, sustained growth in demand for new-generation optical fiber and cable products domestically and internationally, and continuous improvement in industry supply-demand dynamics. Against this backdrop, the company has vigorously expanded its computing power data center-related business, achieving expansion of core clients, optimization of product mix, and enhancement of profitability.
09:43 Update
Memory chip concept stocks fluctuated lower, with Demingli hitting the limit-down, Biwin Storage dropping over 8%, while Dagang Co., Ltd., Puram, Jiangbolong, and Netac Technology followed the decline.
On the news front, Demingli announced an estimated H1 2026 net profit attributable to shareholders of 5.7 to 6.5 billion yuan. The company's estimated Q2 net profit is 2.354 to 3.154 billion yuan, compared to a Q1 net profit of 3.346 billion yuan. This implies an estimated Q2 sequential decline of approximately 5% to 29%.
09:40 Update
Computing power chip concept stocks weakened, with Moore Threads falling nearly 10%, while Jingjia Micro, Montage Technology, Dashengtong, ASR Microelectronics, and Cambricon followed the downtrend.
09:32 Update
Innovative drug stocks remained active, with Harbin Pharmaceutical Group Co. Ltd. reaching its 4th consecutive limit-up, Dizal Pharmaceutical hitting its 2nd consecutive 20% limit-up, and Joinn Laboratories touching the limit-up. Yinuosi, CSPC Innovation Pharmaceutical Co., Ltd., GenScript ProBio, and Bioray Laboratories, Inc. followed with gains.
On the news front, the latest data from the National Medical Products Administration (NMPA) shows that from January to June this year, China's innovative drug out-licensing deals totaled 81 transactions, with a total value of approximately $110 billion, reaching 80% of the full-year 2025 total and setting a new historical high.
Simultaneously, the NMPA revealed that in the first half of the year, China approved 38 Class 1 innovative drugs for marketing, of which 11 were drugs with new targets or mechanisms, all being domestically developed and proprietary innovative drugs.
09:26 Update
The Shanghai Composite Index opened 0.09% lower, while the ChiNext Index opened 0.74% higher. Advanced packaging, semiconductor equipment, rare earths, lithography machines, PCBs, lab-grown diamonds, and memory concept stocks led the gains. Oil & gas, commercial aerospace, traditional Chinese medicine, baijiu, gold, and banking sectors were weaker.
09:21 Update
The Hang Seng Index opened 0.87% higher, and the Hang Seng Tech Index opened up 0.78%. Zhipu AI rose over 6%, China Life Insurance gained over 4%, while Contemporary Amperex Technology Co., Limited and Lenovo Group advanced over 3%.
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