On May 29th, market volatility was triggered by rumors of a delayed US-Iran ceasefire agreement. Overnight, the three major US stock indices closed at record highs, while oil prices largely stabilized after repeated denials of the rumors, the US dollar weakened, and gold regained buying interest. In the A-share market, the three major indices opened higher collectively. As of 9:50, the Shanghai Composite Index was down 0.05%, the Shenzhen Component Index fell 0.45%, the ChiNext Index declined 0.67%, and the STAR 50 Index dropped 0.84%.
In terms of sector performance, the real estate sectors in both A-shares and Hong Kong stocks collectively surged. China Vanke Co.,Ltd. and Yang Guang Co., Ltd. hit the daily limit-up, while Everbright Jiabao approached the limit-up. Tefa Service rose over 11%, and Greenland Holdings, Shanghai Industrial Development, and Financial Street Holdings gained more than 5%. In Hong Kong stocks, Country Garden surged nearly 30%, Sunac China increased nearly 15%, with CHINA VANKE, Longfor Group, and Ronshine China following the upward trend.
The lab-grown diamond concept remained active, with Sifangda and Huifeng Diamond both rising over 11%, followed by Walld, Power Diamond, and Huanghe Whirlwind.
The power sector strengthened again in the morning session. Guangdong Electric Power Development A-share achieved three consecutive limit-up boards, Huadian Energy touched the limit-up, with Solar Energy, Jiantou Energy, Zhejiang New Energy, and Jinkong Power following the gains.
Looking ahead, China Merchants Securities stated that investors should focus on the technology theme, high-export prosperity sectors, and areas recovering from capacity clearance inflection points. Key areas to watch include high-growth sectors within the technology theme, such as electronics (semiconductors) and machinery equipment (automation equipment), as well as high-end manufacturing with export advantages and sectors showing recovery from capacity clearance inflection points.
China Galaxy Securities noted in a research report that Tokens, as the smallest unit of information processed by AI large models, can precisely measure computing power, video memory, and power consumption. Serving as the value carrier for the AI computing economy, they are akin to the "water, electricity, and coal" and core production factors of the AI era, driving data centers to become intelligent factories for large-scale Token production. The speed of Token generation is highly correlated with hardware performance, making hardware a core driver of Token economic growth. The transformation of data centers into Token super factories under AI's impetus will drive comprehensive upgrades in core components such as PCBs and passive components.
CITIC Securities mentioned in a research report that renewed disturbances in the mining sector highlight opportunities in the aluminum segment. The Guinean government plans to finalize bauxite adjustment policies in June, increasing supply constraint risks for bauxite. This may stabilize bauxite and alumina prices, benefiting resilient aluminum companies with high self-sufficiency rates in bauxite and alumina. Domestic inventory reduction for electrolytic aluminum is accelerating, while overseas shortage risks persist. The firm continues to recommend opportunities for low-position allocation in the aluminum sector, with a focus on strong resources, high growth, and high dividend investment themes.