To The Moon

A-share markets opened lower and continued to fall on Monday, July 29, with all three major indices declining. The Shanghai Composite Index once again fell below the 3800-point mark. The Shenzhen Component Index and the ChiNext Index both dropped over 1%, though the ChiNext briefly surged more than 1% at the open. The STAR 50 Index fell over 3%. Stocks related to computing hardware, lithography machines, and chip semiconductors experienced a collective downturn, while sectors like consumer staples and real estate strengthened.

Hong Kong stocks opened higher and continued to rise. The Hang Seng Index and the Hang Seng Tech Index both rallied at the start of trading, with the Hang Seng Index up 1% and the Hang Seng Tech Index up over 2%. Internet and technology stocks rebounded broadly, while chip stocks continued to face pressure. Gigadevice Semiconductor Inc. (ASX: 603986) fell over 6%. In the bond market, treasury futures generally rose. In the commodities market, most domestic commodity futures moved higher, with fuel oil and crude oil rebounding.

Core Market Movements:

A-shares: As of this writing, the Shanghai Composite Index fell 0.55%, the Shenzhen Component Index fell 1.05%, and the ChiNext Index fell 1.19%.

Hong Kong Stocks: As of this writing, the Hang Seng Index rose 1.47%, and the Hang Seng Tech Index rose 2.33%.

Bond Market: Treasury futures rose across the board. As of this writing, the 30-year main contract rose 0.17%, the 10-year main contract rose 0.06%, the 5-year main contract rose 0.04%, and the 2-year main contract rose 0.02%.

Commodities: Most domestic commodity futures rose. As of this writing, the container shipping index rose 3%, fuel oil and crude oil rose 2%, while rapeseed, aluminum, paper pulp, asphalt, coke, hot-rolled coil, tin, manganese silicon, rebar, iron ore, coking coal, lithium carbonate, and glass all moved higher. In contrast, polysilicon, stainless steel, soybean meal, copper, platinum, nickel, eggs, caustic soda, and gold fell. Palladium, silver, and rubber fell over 1%.

09:55
Real estate sector oscillated and rose. China Communications Construction Real Estate hit its daily limit up. Binjiang Group Co., Ltd., China Merchants Shekou Industrial Zone Holdings Co., Ltd., Sanxiang Impression Co., Ltd., and Shahe Co., Ltd. followed suit.

09:51
The STAR 50 Index fell over 3%. The Shenzhen Component Index and the ChiNext Index both fell over 1%. The Shanghai Composite Index fell 0.44%. Sectors like lithography machines, glass substrates, memory chips, and advanced packaging led the declines. Over 2,500 stocks fell across the Shanghai, Shenzhen, and Beijing exchanges.

09:46
Retail concept stocks performed actively. Guoguang Chain Co., Ltd. hit its daily limit up. Fujian Dongbai Group Co., Ltd. touched its daily limit up. Shanghai No. 1 Pharmacy Co., Ltd., Nanning Department Store Co., Ltd., Xinhua Department Store Co., Ltd., Central Plaza Co., Ltd., and Guangbai Shares Co., Ltd. followed suit.

09:42
MLCC concept stocks oscillated and rose. Fenghua Advanced Technology (Holding) Co., Ltd. achieved its second daily limit up in three days. Chaozhou Three-circle (Group) Co., Ltd., Torch Electron Co., Ltd., Boqian New Material Co., Ltd., and Yunzhong Technology Co., Ltd. followed suit.

09:39
The ChiNext Index rose over 1%. The Shanghai Composite Index rose 0.17%, and the Shenzhen Component Index rose 0.60%. Sectors like food and beverage, education, film and media, and oil and gas led the gains. Nearly 4,100 stocks rose across the Shanghai, Shenzhen, and Beijing exchanges.

09:26
The Shanghai Composite Index opened 0.26% higher, and the ChiNext Index rose 0.19%. Sectors like lithography machines, memory chips, glass substrates, CPO, and PCB concept stocks fell; CRO, cybersecurity, and short drama game concept stocks were active.

09:21
The Hang Seng Index opened 0.7% higher, and the Hang Seng Tech Index rose 1.02%. MINIMAX and Li Auto Inc. rose over 4%. Leapmotor and Zhipu rose over 2%. Alibaba Group Holding Limited and XPeng Inc. were among the top gainers.