June 9 A-share Market Recap: Computing Power Hardware Soars Across the Board, ChiNext Jumps Nearly 4%

## Index Performance
The Shanghai Composite Index closed up 1.28%, the Shenzhen Component Index rose 3.02%, and the ChiNext Index surged 3.93%. The three major indices fluctuated and moved higher throughout the day, accelerating in the afternoon, with ChiNext leading the gains.

## Trading Volume
The total turnover across the two markets was 2.64 trillion yuan, down 1524 billion yuan from yesterday, but still at historical high levels. A rise on declining volume suggests there is not much selling pressure; however, if volume is not replenished next, divergence may intensify.

## Hot Themes / Main Line
Computing power hardware strengthened across the board and became the absolute core:

- Semiconductors: Shanghai Silicon Industry, Jiahua Tech, Fuchuang Precision, etc. hit the 20cm daily limit
- CPO / Optical Modules: Taiceng Optoelectronics rose more than 18%, Hengtong Optoelectronics hit the daily limit, and Xin Yisheng rose more than 8%
- MLCC: Lih Hexing hit the 20cm daily limit; Fenghua Advanced Technology and Dongaicai Technology also hit the daily limit
- Others: PCB, optical fiber, liquid cooling, glass substrates, energy metals (Shengxin Lithium hit the daily limit), and more all stayed active across the board

## Weak Sectors
Traditional or defensive sectors such as coal, oilfield services, liquor, real estate development, and aquaculture remained sluggish all day. Funds continued to rotate from high-dividend and cyclical stocks toward technology growth.

## Brief Commentary
Today’s market style was extremely clear: technology growth dominated absolutely. The computing power chain—from semiconductors to optical modules to passive components—bloomed in multiple spots. ChiNext broke out on volume expansion (in reality volume shrank, but the absolute amount remained high), and the money-making effect was concentrated in the technology sector. It should be noted that a rise on declining volume indicates slightly less willingness to chase gains. If tomorrow the technology sector shows high-level volume stalling and lackluster follow-through, short-term divergence may be ahead. Overall, the computing power main line’s leading position is confirmed, but chasing higher prices requires caution. Keep an eye on whether rotation within the sector or major weight stocks can take over and stabilize.

## Risk Warning
Tech stock sentiment is already on the hot side, and short-term volatility may increase. If trading value continues to shrink, be alert for a pullback.
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