China's STAR 50 Falls 4% as Chip Stocks Slump, Power Sector Surges, Hang Seng Tech Rises 1% on Alibaba's Nearly 6% Jump

Deep News
08/03

On August 3, A-shares experienced volatile trading in the morning session, with all three major indices opening lower. The ChiNext Index dropped over 1%, while the semiconductor and chip sectors once again fell into a correction. The STAR 50 Index declined as much as 3%. In contrast, the robot concept stocks rebounded, and themes such as nuclear power, nuclear fusion, smart grids, and virtual power plants saw a surge in activity.

Hong Kong stocks opened higher and maintained gains, with both the Hang Seng Index and the Hang Seng Tech Index rising. The Hang Seng Tech Index initially gained over 1% in early trading. Most tech stocks advanced, with Alibaba surging nearly 6%. However, chip stocks weakened, with GigaDevice falling 6%. In the bond market, Treasury futures posted broad gains. In the commodities market, most domestic commodity futures declined. Key market movements include:

A-shares: As of the time of writing, the Shanghai Composite Index fell 0.52%, the Shenzhen Component Index dropped 0.73%, and the ChiNext Index declined 1.10%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index rose 0.61%, and the Hang Seng Tech Index gained 1.08%.

Bonds: Treasury futures rose across the board. As of the time of writing, the 30-year main contract edged up 0.06%, the 10-year main contract added 0.02%, the 5-year main contract increased 0.03%, and the 2-year main contract was up 0.01%.

Commodities: Most domestic commodity futures declined. As of the time of writing, polysilicon surged over 6%, while eggs, the container shipping index, and rapeseed rose by 1%. Industrial silicon, platinum, tin, palladium, and copper saw modest gains. In contrast, caustic soda, alumina, asphalt, stainless steel, soybean meal, pulp, aluminum, glass, nickel, hot-rolled coils, rebar, and gold all fell. Coking coal, coke, and manganese silicon dropped over 1%, while iron ore, lithium carbonate, crude oil, and fuel oil were among the biggest losers.

09:49
The STAR 50 Index fell further, dropping over 4%. Semiconductor and chip stocks like Zhengyuan Technology, Hwatsing Technology, China Special Gas, Puya Semiconductor, Piotech, and Hongli Microelectronics led the decline.

09:41
The STAR 50 Index fell over 3%.

09:35
In early trading, the computing power leasing concept continued its strong momentum from last Friday. Infore Environment rose for a second consecutive day, Mecury Technology touched the daily limit, and stocks such as Liton Electronics, Hongjing Technology, Runnian Technology, and copper info technology followed suit. On the news front, on July 31, National Development and Reform Commission spokesperson Jiang Yi stated at a press conference that relevant institutions estimate the construction of a computing power network during the "15th Five-Year Plan" period will add 4 trillion yuan in direct investment.

09:30
In early trading, the humanoid robot concept strengthened. Zhongda Lide rose for a second consecutive day, Fujian New Materials hit the daily limit, and stocks such as Wolong Electric, Fengguang Precision, Orbbec, and Leader Drive followed suit.

09:31
The ChiNext Index fell over 1.00%. Oil, securities, semiconductor chips, and computing power hardware sectors led the decline. Nearly 2,400 stocks fell across the three markets of Shanghai, Shenzhen, and Beijing.

09:26
The Shanghai Composite Index opened 0.51% lower, and the ChiNext Index fell 0.71%. Concepts such as memory, HBM, semiconductor materials, PCB, and lithography machines weakened. In contrast, nuclear fusion, humanoid robots, AI applications, and PEEK material indices strengthened.

09:21
The Hang Seng Index opened 0.4% higher, and the Hang Seng Tech Index rose 0.68%. Alibaba rose over 3%, Baidu gained nearly 3%, and Minmax and Leapmotor climbed nearly 2%. Zhipu fell nearly 5%.

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