On September 16, A-shares experienced a turbulent morning session with all three major indices declining at the open. 科创50 defied the broader trend with a gain exceeding 1%, supported by a rebound in semiconductor supply chain, optical communications, and optical chip sectors. Biopharmaceuticals advanced in early trading with notable strength in CRO concept stocks, while 宁德时代 and 赛力斯 continued their downward trajectory. Meanwhile, sectors such as construction machinery, cybersecurity, and new energy vehicles faced notable headwinds.

Hong Kong stocks opened higher but swiftly turned lower, with both the Hang Seng Index and Hang Seng Tech Index declining in morning trade. Technology internet stocks largely remained under pressure, while chip stocks showed resilience. AI model leaders staged a rebound, with 智谱 and MINIMAX both climbing over 5%. However, H-shares of 宁德时代 and 赛力斯 extended losses, each dropping more than 4%. In fixed income, treasury bond futures fluctuated downward. In commodities, most domestic futures contracts moved higher.

Core Market Performance Overview:

In A-shares, at press time, the Shanghai Composite Index declined 0.26%, the Shenzhen Component Index fell 0.34%, and the ChiNext Index slipped 0.14%.

In Hong Kong, at press time, the Hang Seng Index dropped 0.24%, while the Hang Seng Tech Index decreased 0.59%.

Treasury bond futures saw mild losses at press time, with the 30-year main contract down 0.06%, the 10-year main contract easing 0.02%, while the 5-year and 2-year contracts held steady.

Most domestic commodity futures advanced, with asphalt gaining over 3% and fuel oil plus soybean meal rising around 2%. Crude oil and wood pulp increased by over 1%. Other gainers included palladium, SGE silver, rebar, caustic soda, rubber, platinum, rapeseed, SGE copper, SGE aluminum, hot-rolled coils, alumina, SGE tin, and eggs. Conversely, SGE gold, polysilicon, container shipping index, coking coal, iron ore, industrial silicon, and ferromanganese retreated, while stainless steel, glass, and SGE nickel fell over 1%. Lithium carbonate was the weakest, dropping more than 3%.

10:10

At 10:10 Beijing time, 科创50 expanded gains to surpass 2%, with Cambricon Technologies, Hygon Information Technology, Semiconductor Manufacturing International Corporation (SMIC), AMEC, and Montage Technology all advancing in tandem.

10:07

Optical communication stocks accelerated their advance, led by Zhongji Innolight, Eoptolink Technology, Tianfu Communication, and Accelink Technologies. US-listed chipmakers NVIDIA and Micron Technology stabilized overnight, while South Korea's SK Hynix saw a mild rebound in early Asian trading.

09:52

Construction machinery stocks dropped sharply, with XCMG, SANY Heavy Industry, Shantui Construction Machinery, LiuGong Machinery, and Hangcha Group all declining simultaneously. Analysts attribute the sell-off to intensifying competition in overseas niche markets following industry-wide international expansion, leading to compressed gross margins for some companies. Additionally, rising raw material costs have further burdened profitability.

09:43

Agricultural stocks rebounded during early trading, with Wanxiang Doneed hitting the daily limit. Other gainers included Fujian Jinsen, Tianshan Bio, Qiule Seed, and Shennong Seed.

On the news front, the Ministry of Agriculture and Rural Affairs released the "15th Five-Year Plan for National Planting Industry Development" on September 15. The plan targets a steady improvement in comprehensive grain production capacity by 2030, maintaining the bottom line of basic grain self-sufficiency and absolute security of staple food supplies. It also aims to consolidate and enhance production capacity for soybeans, oilseeds, cotton, and sugar crops while maintaining reasonable self-sufficiency levels.

09:41

Both A-share and H-share listings of 宁德时代 and 赛力斯 continued their downward slide in morning trading, placing pronounced pressure on the new energy vehicle sector.

09:38

PCB concept stocks rallied once more, with Aohong Electronics achieving a fourth consecutive limit-up. Well Electronics surged over 10%, while E-biao Technology, Jinlu Electronics, Zhongjing Electronics, and Allied Circuit followed with strong gains.

09:26

The Shanghai Composite Index opened 0.07% lower, while the ChiNext Index declined 0.03% at the start. Cybersecurity, agriculture, dining and tourism, and media sectors adjusted lower, whereas servers, shipping, and oil and gas segments displayed strength.

09:21

The Hang Seng Index opened 0.50% higher and the Hang Seng Tech Index gained 0.47%. Lenovo Group, Weichai Power, and Montage Technology bolstered the indices. Meanwhile, 宁德时代, 赛力斯, and Fuyao Glass experienced adjustments.