On July 13, A-share indices opened collectively lower. The Shanghai Composite Index opened down 0.75%, the Shenzhen Component Index opened down 0.92%, the ChiNext Index opened down 0.86%, and the STAR Market Composite Index opened down 1.19%. More than 3,700 stocks across the market were trading in negative territory.
Top Gainers and Losers by Sector
In terms of sectors, concepts such as oil extraction, industrial gases, and coal were among the top gainers. Sectors such as trade, precious metals, semiconductors, HBM, memory, and glass fiber were among the biggest decliners.
Individual Stock Movements
Regarding individual stocks, six stocks opened at the daily limit-up. Among them, Guohua Tui and Guisheng Co., Ltd. hit their third consecutive limit-up, CITIC Heavy Industries and Jiufeng Energy hit their second consecutive limit-up, and Rike Chemical opened at its first limit-up.
The US Central Command announced on the 12th that the US military had begun a new round of strikes against Iran. Influenced by this news, international oil prices rose significantly during the Asian trading session on the 13th. At the time of writing, Brent crude was up 3.88% to $78.96 per barrel, while WTI crude was up 4.16% to $74.38 per barrel.
Market Reaction to Geopolitical Tensions
Escalating tensions in the Middle East have increased market expectations for Federal Reserve interest rate hikes, putting pressure on international gold and silver prices during the Asian session on the 13th. At the time of writing, spot gold was down 0.91% to $4,082.93 per ounce, while spot silver was down 1.17% to $58.812 per ounce.
Developments in the Commercial Space Sector
On July 12, two core commercial space platforms under the China Aerospace Science and Technology Corporation (CASC) saw significant developments. Among them, CASC Commercial Satellite Co., Ltd. completed a capital increase and share expansion, introducing Aerospace Investment Holdings Co., Ltd. as a new shareholder, increasing its registered capital from 1.315 billion yuan to approximately 1.65 billion yuan. The registered capital of CASC Commercial Rocket Co., Ltd. increased significantly from 1.396 billion yuan to approximately 4.17 billion yuan, possibly reflecting an acceleration in investment for rocket launch capacity construction. This indicates that the national space team's "rocket-satellite integration" commercialization strategy is shifting from structural setup to full-speed advancement. Furthermore, the registered capital of Beijing Satellite Manufacturing Factory Co., Ltd., wholly owned by the China Academy of Space Technology, increased significantly from approximately 1.03 billion yuan to about 1.55 billion yuan.
Analyst Commentary on the AI Sector
A research report from a securities firm stated that first-half performance previews for the A-share computer sector and overseas model iterations jointly confirm the continued high activity in the AI industry chain. On one hand, hardware segments like AI servers and intelligent computing infrastructure show strong earnings momentum, while software and AI application companies are also beginning to show operational recovery and revenue realization. On the other hand, overseas models from companies like OpenAI, xAI, and Meta continue to strengthen capabilities in areas like agents, coding, multimodality, and office entry points. Model competition is shifting from capability validation to high-frequency scenario implementation, and inference-side computing power consumption, infrastructure investment, and AI application commercialization are expected to continue to resonate.
Hong Kong Market Opening
The Hong Kong stock market opened with the Hang Seng Index down 0.07%, the Hang Seng Tech Index down 0.04%, and the HSCEI up 0.04%. Shares of Gigadevice Semiconductor Inc. opened down over 11%.
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