On March 25, A-shares opened higher and extended gains in early trading, with the three major indices collectively rising at the market open. The Shanghai Composite Index reclaimed the 3900-point level, while the ChiNext Index and the Shenzhen Component Index each gained over 1%. Computing hardware stocks experienced a strong surge, with significant gains in areas such as CPO, optical communication, and optical circuit switches. Precious metals and base metals rebounded, while oil & gas and coal sectors retreated.

Hong Kong stocks continued their upward trend from the previous trading session, with the Hang Seng Tech Index rising over 1%. Technology and internet stocks saw a broad-based rebound, led by advances in nonferrous metals and semiconductors. In the bond market, government bond futures rose across the board. In commodities, domestic commodity futures showed mixed performance, with metal futures climbing while crude oil and fuel oil futures fell sharply. Key market movements:

A-shares: As of writing, the Shanghai Composite Index was up 0.49%, the Shenzhen Component Index rose 1.28%, and the ChiNext Index gained 1.11%.

Hong Kong stocks: As of writing, the Hang Seng Index increased 0.75%, and the Hang Seng Tech Index advanced 1.50%.

Bond market: Government bond futures were up across all maturities. As of writing, the 30-year main contract rose 0.21%, the 10-year main contract increased 0.04%, the 5-year main contract edged up 0.02%, and the 2-year main contract gained 0.02%.

Commodities: Domestic commodity futures were mixed. As of writing, Shanghai silver futures surged 9%, platinum and palladium futures jumped over 7%, while Shanghai gold, lithium carbonate, and Shanghai tin futures each rose more than 4%. Polysilicon and Shanghai copper futures gained over 1%, with rubber, Shanghai nickel, stainless steel, and egg futures also moving higher. Conversely, iron ore, rebar, pulp, soybean meal, glass, rapeseed, coke, and silicon manganese futures declined. Asphalt futures dropped over 5%, while crude oil, fuel oil, and containerized freight index futures fell more than 7%.

At 09:26, the Shanghai Composite Index opened 0.28% higher, and the ChiNext Index rose 1.1%. Themes related to computing hardware, such as CPO and high-speed copper connections, were active. Gold, lithium mining, and rare earth concept stocks strengthened. Indices for AI applications, semiconductors, consumer electronics, and nuclear fusion were among the top gainers. Oil & gas, coal, and photovoltaic sectors weakened.

At 09:21, the Hang Seng Index opened 0.87% higher, and the Hang Seng Tech Index increased 0.99%. China Molybdenum Co., Ltd. rose nearly 7%, while Nongfu Spring gained over 6%. Lao Feng Xiang advanced more than 5%, and Zijin Mining Group and SenseTime Group each increased over 3%.