A-shares strengthen, ChiNext index rises over 1%! Micro-cap index rises over 2%, Beijing Stock Exchange 50 rises over 2%, nearly 4,300 stocks advance, computing power concept active, Dawning Information Technology hits 2-day limit up

February 28 | Major A-shares indices strengthened, with the ChiNext Index rising over 1%, the Shanghai Composite up 0.22%, and the Shenzhen Component up 0.71%. Leading the gains were sectors such as artificial meat, weight-loss medications, securities, and state-owned enterprises, with nearly 4,300 stocks across Shanghai, Shenzhen, and Beijing rising.

Tonghuashun (300033) micro-cap index increased by over 2%, and the Beijing Securities 50 index also rose more than 2%.

A-shares brokerage stocks opened strong, with Western Securities (002673) hitting the daily limit-up three times in four days, and Huachuang Yunxin, Cinda Securities, Changjiang Securities (000783), Southwest Securities (600369), and Founder Securities (601901) following the upward trend.

A-shares gaming stocks performed well, with Ciyun Media (002343) hitting the daily limit-up, and Zhongqingbao (300052), Huayi Brothers (300027), and Xunyou Technology (300467) rising over 5%. Also gaining were Tianzhou Culture (300148), Kaiying Network (002517), Shifeng Culture (002862), and Caesar Culture (002425). On the news front, the National Press and Publication Administration released the February approval information for domestic online games on the 27th, with 111 games approved.

A-shares computing power concept stocks showed active fluctuations, with Sugon (中科曙光) hitting two consecutive limit-ups, and Rujian Shares (002929), Unigroup (紫光股份 000938), Zhongqingbao, Cambrian (寒武纪), and Zhongbei Communications (603220) rising over 5%. Zheshang Securities (601878) believes that generative AI is expected to bring a leap in social productivity, marking the beginning of the “Fourth Industrial Revolution.” The foundation of industrial development is abundant, low-cost computing power supply, and from this perspective, vigorously developing domestic computing power in China is essential.

The hydrogen energy sector was active early in the session, with Compton (603798), Hongtao Shares (002325), and Yinglite (000635) hitting the limit-up. Hanma Technology also reached the limit-up, while New Power (310328), Zhongtai Shares (300435), Shenghui Technology, and Houp Shares (300471) rose over 5%. According to the China Hydrogen Energy Alliance Research Institute, during the early 2024 local two sessions, 22 out of 31 provincial-level administrative regions included hydrogen energy in their government work reports, with the number of provinces mentioning hydrogen energy development increasing year by year.

Hong Kong stocks’ technology sector strengthened, with the Hang Seng Tech Index rising over 1%.

(Editors: Song Zheng HN002)