China A-share property stocks rebounded following the latest data from the National Bureau of Statistics, which showed that the month-on-month decline in commercial residential sales prices in first-, second-, and third-tier cities narrowed overall in January. Overnight, deep investor concerns that artificial intelligence will disrupt business models across numerous industries, combined with the largest drop in U.S. existing home sales in four years, triggered market risk aversion. Investors sold off risk assets such as stocks and commodities, while the gold and silver markets faced selling pressure due to liquidity needs, extending the decline from the night session for gold and silver futures.

On February 13, A-shares experienced volatile declines in early trading, with the three major indices falling at the opening. The semiconductor industry chain saw gains, while non-ferrous metals and computing hardware stocks collectively adjusted. Hong Kong stocks opened significantly lower, with the Hang Seng Index and Hang Seng Tech Index both down over 1% at the start of trading. Technology and internet stocks declined across the board, while semiconductor stocks bucked the trend with gains.

In the bond market, government bond futures showed mixed performance, with 30-year bond futures rising. In commodities, most domestic futures fell, with silver futures dropping over 7%. Tin, nickel, and other metal futures led the declines. Key market movements:

A-shares: As of writing, the Shanghai Composite Index fell 0.39%, the Shenzhen Component Index declined 0.40%, and the ChiNext Index dropped 0.54%.

Hong Kong stocks: As of writing, the Hang Seng Index decreased 1.34%, and the Hang Seng Tech Index fell 1.04%.

Bond market: Government bond futures fell across the board. As of writing, the 30-year main contract rose 0.10%, the 10-year main contract declined 0.03%, the 5-year main contract increased 0.04%, and the 2-year main contract dropped 0.01%.

Commodities: Most domestic commodity futures declined. As of writing, silver futures fell 7%, while tin, nickel, and platinum futures dropped over 3%. Palladium, fuel oil, asphalt, stainless steel, and copper futures declined over 2%. Aluminum, gold, lithium carbonate, and iron ore futures fell over 1%. Rubber, containerized freight index, glass, rapeseed, industrial silicon, ferromanganese, pulp, and coking coal futures also decreased. Hot-rolled coil, polysilicon, alumina, rebar, coke, soybean meal, and egg futures rose, with caustic soda increasing over 3%.

At 09:52, the property sector saw volatile gains, with Jingneng Properties hitting the daily limit-up. Shenzhen Zhenye, Bright Real Estate, Da Ming City, Sanxiang Impression, and World Union followed with increases.

The chief statistician of the National Bureau of Statistics Urban Department stated that the month-on-month decline in commercial residential sales prices in first-, second-, and third-tier cities narrowed overall in January. The price of second-hand homes in first-tier cities fell 0.5% month-on-month, with the decline narrowing by 0.4 percentage points from the previous month.

At 09:49, Hong Kong semiconductor stocks rose against the market trend. Iluvatar CoreX gained over 7%, hitting a new high, while Axera advanced over 8%. GigaDevice and Tianyu Semiconductor increased over 3%.

At 09:46, the defense sector saw a sudden surge, led by shipbuilding and offshore engineering. Asian Star Anchor Chain hit the daily limit-up directly. Jianglong Shipbuilding, Guorui Technology, Zhongke Haixun, CSSC Offshore, and China Shipbuilding Industry Group Marine Defense followed with gains.

At 09:40, the computing power leasing concept remained active. 263 Network Communications and Huashi Triumph hit the daily limit-up. Capital Online, Dawei Technology, Tuniuc, Pangea, and DataGo followed with increases.

On February 11, UCloud announced that due to intensified global supply chain fluctuations and significant increases in infrastructure costs such as core hardware procurement, it decided to adjust prices upward for all renewed and new users across its full range of cloud products and services, effective March 1, 2026.

At 09:26, the Shanghai Composite Index opened 0.44% lower, while the ChiNext Index fell 0.56%. Gold, base metals, and oil and gas sectors led the declines, while photovoltaic, CPO, deep-sea technology, and semiconductor themes weakened. Consumer concept stocks strengthened.

At 09:21, the Hang Seng Index opened 1.45% lower, and the Hang Seng Tech Index fell 1.59%. Technology and internet stocks declined across the board, with Tencent Music down over 6%. Zijin Mining, Baidu Group, and Bilibili fell over 3%. Newly listed Haizhi Technology Group surged over 200% on its first trading day.