China A-share’s three major stock indices all fell, while STAR 50 bucked the trend and rose by more than 1%. Semiconductors surged again, Hang Seng Tech Index rose by more than 2%, and internet and tech stocks rebounded.

On July 7, A-shares fluctuated lower, with the three major stock indexes falling in the morning session. The Shanghai Composite Index approached the 4000-point level. The ChiNext Index initially rose in early trading but then turned lower again. The semiconductor supply chain rebounded, with sectors such as semiconductor silicon wafers, ASIC chips, and the semiconductor industry surging sharply. Concepts like lab-grown diamonds and online games were active, while sectors like coal, petrochemicals, and pharmaceuticals adjusted lower.

Hong Kong stocks opened lower and then rose, with both the Hang Seng Index and the Hang Seng Tech Index gaining. The Hang Seng Tech Index rose over 2%. Most tech and internet stocks advanced, with Meituan rising over 6% and Tencent rising over 4%. Memory chips fell back, with GigaDevice dropping nearly 6%. In the bond market, most treasury bond futures declined. In commodities, domestic commodity futures were mixed, with metals futures such as silver under pressure. Key market trends:

A-shares: As of press time, the Shanghai Composite Index fell 0.89%, the Shenzhen Component Index fell 0.70%, and the ChiNext Index fell 0.60%.

Hong Kong stocks: As of press time, the Hang Seng Index rose 0.46%, and the Hang Seng Tech Index rose 1.69%.

Bond market: Most treasury bond futures declined. As of press time, the 30-year main contract rose 0.08%, the 10-year main contract was flat, the 5-year main contract fell 0.01%, and the 2-year main contract fell 0.01%.

Commodities: Domestic commodity futures were mixed. As of press time, stainless steel, eggs, and soybean meal rose over 1%; manganese silicon, nickel, aluminum, iron ore, industrial silicon, coke, rubber, hot-rolled coil, tin, rebar, crude oil, etc., rose; polysilicon, copper, coking coal, container shipping index, palladium, alumina, rapeseed, fuel oil, lithium carbonate, pulp, gold, etc., fell; caustic soda, asphalt, glass, and silver fell over 1%.

10:34

The Shanghai Composite Index expanded its decline to 1%, and the ChiNext Index fell 0.9%. Sectors such as petrochemicals, shipping, pharmaceuticals, and precious metals led the decline.

10:15

The Hang Seng Tech Index rose over 2% intraday, with Meituan rising over 7% and Tencent rising over 5%.

09:59

The semiconductor silicon wafer concept continued to strengthen, with Yousilicon hitting the 20% daily limit, Shanghai Hejing rising nearly 10%, and NSIG, TCL Zhonghuan, Lioni, and Zhongjing Technology following the gain.

On the news front, a research report from Caitong Securities pointed out that in mid-to-late May this year, global silicon wafer leaders Shin-Etsu Chemical, SUMCO, and GlobalWafers initiated their second round of price hikes this year. Among them, 12-inch regular silicon wafers rose 5% to 8%, while high-end specialized wafers adapted for AI/HPC scenarios rose 18% to 22%. The cumulative increase from the two rounds of price hikes this year exceeded 15%.

09:51

The lab-grown diamond concept fluctuated and rose, with Huifeng Diamond rising over 10%, Yeguangming rising over 25%, and Huanghe Whirlwind, World, Sifangda, and LiLi Diamond following the gain.

On the news front, Soochow Securities believes that the explosion in AI computing demand, coupled with the catalyst of Nvidia's Rubin architecture, is expected to accelerate the penetration of diamond materials. Diamond materials, with their ultra-high thermal conductivity and low thermal expansion characteristics, are expected to become an important technical path for the next-generation advanced heat dissipation solutions for high-end AI chips.

09:46

In early trading, the computing chip concept fluctuated and rose, with Muxi shares rising over 10%, and Wantong Development, VeriSilicon, Haiguang Information, Cambricon, Moore Threads, and Loongson Technology following the gain.

On the news front, Intel has raised prices for CPUs. This price increase mainly targets some consumer-grade Core Ultra processors and Xeon server processors. Among them, high-end Xeon server products saw an overall increase of 7% to 12%.

09:42

In early trading, the PCB concept rebounded with volatility, with Guanghua Technology, Tianhai Electronics, Wellgain, and Noda shares hitting the daily limit, and Jinguo Anji, Shandong Fiberglass, Dingtai High-Tech, and Shengguan Group following the gain.

On the news front, on July 6, the leading copper-clad laminate manufacturer Kingboard Laminates issued another price hike letter: due to the continuous surge in market demand, driving the tight supply and sharp price increases of core materials such as glass fabric and copper, the company will raise prices for all FR-4 and PP by 15% and CEM-1/22F by 10%. Copper foil processing fees for under 1.5oz will increase by +5 yuan/KG, and for 2oz and above by +8 yuan/KG.

09:40

In early trading, the edge AI concept strengthened with volatility, with Rockchip hitting the daily limit, and Transsion, Allwinner Technology, Pinming Technology, Espressif, VeriSilicon, and Hengxuan Technology following the gain.

On the news front, Broadcom announced an expansion of its strategic cooperation with Apple, extending the customized ASIC chip contract to 2031. It will develop and supply customized AI accelerator chips for multiple generations of iPhone, Mac, and Vision Pro products, strengthening the edge-side AI computing layout.

09:35

The Hang Seng Tech Index rose over 1% intraday, with Meituan rising over 4%, and Tencent, Xiaomi, Lenovo, and Li Auto rising over 3%.

09:28

Precious metals concepts collectively opened lower, with Zhaojin Gold once hitting the daily limit, and Xiaocheng Technology, Chifeng Gold, Xingye Silver Tin, and Hunan Silver collectively opening lower. On the news front, spot silver fell below $61 per ounce, down 1.73% intraday. Spot gold fell below $4140 per ounce, down 0.61% intraday.

09:26

The Shanghai Composite Index opened down 0.54%, and the ChiNext Index fell 0.44%. Semiconductor and chip stocks led the decline, with memory and advanced packaging sectors leading the drop. Building materials and precious metals sectors were weak; the construction machinery sector strengthened.

09:21

The Hang Seng Index opened down 0.2%, and the Hang Seng Tech Index fell 0.37%. Resource stocks led the decline, and pharmaceutical stocks pulled back.

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