Chinese A-shares and Hong Kong stocks opened sharply lower, with the ChiNext index briefly tumbling over 3% and the Hang Seng Tech Index dropping more than 2%. Technology stocks saw a broad-based correction, with sectors like semiconductors and computing hardware leading the declines. The sell-off followed earlier heavy losses in South Korean and Japanese markets, where major chip giants Samsung Electronics and SK Hynix faced intense selling pressure, causing South Korea's KOSPI index to plummet over 8% at one point in early trading.

On June 8th, A-shares opened significantly lower, with all three major indices plunging at the start. The Shanghai Composite Index fell below the 4000-point mark, and the ChiNext index slumped over 3% in early trading. Technology stocks declined across the board, with semiconductor and computing hardware shares moving lower. Non-ferrous metals led the losses, while oil & gas and banking sectors bucked the downtrend.

Hong Kong stocks opened lower and continued to slide, with both the Hang Seng Index and the Hang Seng Tech Index declining. The Tech Index was down over 2%, with internet and tech stocks falling broadly. Baidu Inc shares dropped more than 7%, while Huahong Grace Semiconductor Manufacturing Corporation fell over 4%. In the bond market, government bond futures were down across the board. Commodity futures showed a mixed picture domestically, with Shanghai silver futures crashing 5%, leading losses among metal contracts. Key market movements as of the latest data:

A-Shares: At the time of writing, the Shanghai Composite Index was down 1.01%, the Shenzhen Component Index fell 1.65%, and the ChiNext Index declined 1.90%.

Hong Kong Stocks: At the time of writing, the Hang Seng Index was down 1.52%, and the Hang Seng Tech Index had fallen 2.50%.

Bond Market: Government bond futures were all lower. At the time of writing, the 30-year main contract was down 0.35%, the 10-year main contract fell 0.13%, the 5-year main contract dropped 0.08%, and the 2-year main contract declined 0.03%.

Commodities: Domestic commodity futures were mixed. At the time of writing, the containerized freight index rose over 3%, asphalt gained more than 2%, while fuel oil, coking coal, and lithium carbonate were up over 1%. Crude oil, industrial silicon, alumina, Shanghai nickel, pulp, and stainless steel also moved higher. Hot-rolled coil, manganese silicon, iron ore, soybean meal, coke, rapeseed, eggs, and Shanghai aluminum were among the decliners. Glass and Shanghai copper fell over 1%, rubber and caustic soda dropped more than 2%, Shanghai gold and Shanghai tin were down over 3%, and Shanghai silver plunged 8%.

Notable Sector Movements

At 09:48, the industrial gas concept rebounded during the morning session, led by tungsten hexafluoride-related shares. CSSC Special Gas Co., Ltd. surged over 10%, hitting a new all-time high with its total market capitalization breaking through 130 billion yuan. Haohua Chemical Science & Technology Corp., Ltd. gained over 8%, while Hubei Heyuan Gas Co., Ltd., Juhua Group Corp., and Suzhou NanDa Micro&Nano Technology Co., Ltd. saw rapid gains. Customs export data showed that in April this year, the average export price of domestic tungsten hexafluoride reached $149.79 per kilogram, a 117.9% increase from the January export price, with both month-on-month and year-on-year export volumes growing in April.

At 09:41, the chicken farming concept showed strength against the broader market trend. Xiangjia股份 hit the daily limit-up, Xiaoming股份 rose over 10%, with Minhe股份, Yisheng股份, Jingji Zhinong, and Lihua股份 following higher.

At 09:33, the oil and gas concept was active against the trend. Keli股份 jumped over 13%, with Tongyuan Petroleum, Potential恒信, Shouhua Gas, and Zhongman Petroleum also gaining.

At 09:26, the Shanghai Composite Index opened 2.21% lower, falling below the 4000-point level, while the ChiNext Index dropped 3.48%. The semiconductor and computing hardware supply chain saw a significant pullback, with memory chips, ultra-hard materials, PCBs, high-speed copper connections, semiconductor silicon wafers, CPO, and lithography machine-related stocks leading the decline. Over 5,200 stocks in the market were in negative territory.

At 09:21, the Hang Seng Index opened 1.52% lower, and the Hang Seng Tech Index fell 2.43%. Huahong Grace Semiconductor Manufacturing Corporation dropped over 6%, while Lenovo Group, China Molybdenum Co., Ltd., and Aluminum Corporation of China Limited fell more than 5%. Sunny Optical Technology (Group) Company Limited and Baidu Inc declined nearly 5%.