On March 20, A-shares advanced after early fluctuations. The Shanghai Composite Index briefly dipped below 4000 points before turning positive, closing up 0.16%. The Shenzhen Component Index rose 1.57%, while the ChiNext Index surged 3.3%, surpassing its January 13 high. The STAR Market Composite Index gained 0.78%. Combined turnover for the Shanghai and Shenzhen markets reached 1.44 trillion yuan in the morning session, an increase of 139.2 billion yuan from the previous day. Over 3,100 stocks declined across the market.

New energy sectors led the gains, driving a significant rally in the ChiNext Index. Heavyweight constituents including CATL, Zhongji Innolight, New Easun, Sungrow Power, TFC Optical Communication, and EVE Energy Co., Ltd. performed strongly.

Energy storage concepts accelerated, with Shouhang New Energy and Deye Technology hitting limit-up to reach record highs. Zhengtai Power rebounded sharply to a涨停. Computing hardware concepts climbed during the session, with Yuanjie Semiconductor touching the 20%涨停 limit. New Easun rose over 8% to a historic high, while Zhongji Innolight, Changguang Huaxin, and Guangku Technology posted substantial gains. The power sector remained active, with Huadian Liaoneng securing its fifth consecutive涨停 and Shaoneng Group its third. Yinying Energy and Guangxi Energy also rose by the daily limit.

Solar stocks erupted, with 300827 surging by the 20%涨停 limit. Shouhang New Energy jumped over 19%, followed by Jiuzhou Group and Airoenergy advancing more than 15%. Ginlong Technologies and昱能科技 rose over 14%. Hong Kong-listed solar shares mirrored the strength, with钧达股份 climbing over 10%. Xinyi Solar gained more than 6%, and Flat Glass Group added over 4%. Reports indicated Tesla is procuring Chinese solar equipment, with one manufacturer confirming the gigawatt-scale contract.

On the downside, chemical stocks retreated, with潞化科技 touching the跌停 limit. Jinniu Chemical, Kingenta, and Hongbaoli Group experienced significant declines.

Hong Kong's three major indices opened lower and extended losses. Most technology stocks fell, with Xiaomi Group down over 7%, Alibaba dropping more than 5%, and JD.com and XPeng declining over 3%. Lithium battery shares opened higher, with CATL rising over 5%. Insurance stocks were active, as AIA Group advanced more than 2%. Some non-ferrous metal stocks declined, with Zijin Mining Group briefly falling over 2%.

Spot gold dropped to near $4500 per ounce on the evening of March 19, hitting a six-week low. International precious metals reversed early losses to trade higher, with spot gold up 1.71% above $4730 and spot silver rising 1.77% to $74.135 per ounce by 11:38 a.m.

International oil prices continued to decline, with WTI crude futures falling over 3% and ICE Brent crude down more than 1%.