To The Moon

On June 9th, Chinese A-shares experienced volatile gains, with the three major indices opening higher collectively before diverging. The Shanghai Composite Index fell back to turn negative, while the ChiNext Index rose over 1%, having earlier surged as much as 2%. Chip and semiconductor stocks, along with computing hardware shares, staged a broad rebound, with optical modules, optical chips, and optical communications sectors strengthening notably. Sectors like oil and gas, real estate, and the new energy battery supply chain adjusted.

Hong Kong stocks showed a split performance. The Hang Seng Index and the Hang Seng Tech Index opened lower initially. In the early session, the Hang Seng Index's losses narrowed, and the Hang Seng Tech Index turned positive. Most technology and internet stocks advanced, and the semiconductor sector rebounded. In the bond market, treasury futures declined across the board. In commodities, most domestic commodity futures fell, with coking coal and coke leading the declines. Key market movements are as follows:

A-shares: At the time of writing, the Shanghai Composite Index was up 0.14%, the Shenzhen Component Index was up 0.95%, and the ChiNext Index was up 1.86%.

Hong Kong stocks: At the time of writing, the Hang Seng Index was down 0.48%, and the Hang Seng Tech Index was down 0.04%.

Bond market: Treasury futures were down across all contracts. At the time of writing, the 30-year main contract was down 0.11%, the 10-year main contract was down 0.04%, the 5-year main contract was down 0.04%, and the 2-year main contract was down 0.02%.

Commodities: Domestic commodity futures were broadly lower. At the time of writing, only lithium carbonate and Shanghai copper were in positive territory. Platinum, soybean meal, alumina, Shanghai aluminum, the containerized freight index, pulp, asphalt, Shanghai gold, rubber, iron ore, rapeseed, rebar, hot-rolled coil, ferromanganese silicon, and glass were among the decliners. Shanghai nickel, eggs, stainless steel, Shanghai tin, Shanghai silver, and palladium fell over 1%. Caustic soda, crude oil, industrial silicon, and fuel oil dropped more than 2%. Coke and polysilicon declined over 3%, while coking coal plunged more than 6%.

09:50 Update

The memory chip concept was active, with Jinshajiang Solar Power rising over 12%. Demingli, Jiangbolong, Dawei Shares, Shengong Shares, and Puran Shares followed suit.

On the news front, Nvidia CEO Jensen Huang stated that SK Hynix's plan to double wafer capacity by 2030 is insufficient. SK Group Chairman Choi Tae-won had previously indicated that the memory chip capacity bottleneck issue might persist until 2030.

09:40 Update

The three major indices strengthened at the market open, with the ChiNext Index surging over 2%. The Shanghai Composite Index was up 0.09%, and the Shenzhen Component Index was up 1.06%. Semiconductor chips, computing hardware, and rare earth permanent magnets were among the top gainers. Nearly 1900 stocks across the Shanghai, Shenzhen, and Beijing exchanges were advancing.

09:38 Update

The oil and gas sector continued to adjust in the early session, with Keli Shares falling over 10%. Tongyuan Petroleum, Potential Hengxin, Zhongman Petroleum, Shandong Molong, and Beiken Energy followed the downtrend.

09:37 Update

The PCB (Printed Circuit Board) concept showed repeated strength, with Jin'an Guoji hitting its second consecutive limit-up. International Composite Materials, China Jushi, Sinoma Science & Technology, Shandong Fiberglass, Huazheng New Material, and Nanya New Material rose in tandem.

On the news front, according to a CCTV Finance report, the explosion in computing demand this year has driven a significant increase in the price of electronic cloth. As of early June, commonly used specifications of electronic cloth in the market have undergone five rounds of price hikes this year, with the average price reaching 7.4 yuan per meter, representing a 100% increase compared to the low point in the third quarter of last year.

09:26 Update

The three major A-share indices opened higher collectively. The Shanghai Composite Index opened up 0.46%, the Shenzhen Component Index opened up 1.16%, and the ChiNext Index opened up 1.41%. Memory, PCB, industrial gases, CPO (Co-Packaged Optics), semiconductor equipment, advanced packaging, GPU, computing power leasing, and solid-state battery concept stocks were active. Coal stocks fell sharply, while oil and gas stocks weakened.

09:21 Update

The Hang Seng Index opened 0.43% lower, and the Hang Seng Tech Index opened down 0.26%. Zhipu AI fell nearly 5%, while Li Auto and Horizon Robotics dropped over 2%. Huahong Grace Semiconductor Manufacturing rose over 2%.