The Shanghai Composite fluctuated and rose, innovative drug stocks surged, AI applications rallied across the board, the Hang Seng Tech Index was up 2% intraday, and technology and internet stocks generally rebounded.

On July 10, A-shares oscillated and rose, with the three major indexes collectively moving higher at the open. Innovative drugs and CRO surged, AI applications rallied across the board, and the chip semiconductor supply chain was active during early trading. Concept stocks such as semiconductor silicon wafers, HBM, advanced packaging, and memory chips collectively strengthened, while brokerages, coal, lithium mining, etc., fell into adjustment.

Hong Kong stocks rose in early trading, with the Hang Seng Index and Hang Seng Tech Index both climbing. The Hang Seng Tech Index rose 1%. Most tech internet stocks gained, chip semiconductors surged, with SMIC and Hua Hong Semiconductor up over 6%. AI large model stocks came under pressure, with Zhipu and MINIMAX both falling over 5%.

In the bond market, government bond futures oscillated higher. In commodities, most domestic commodity futures rose, with Shanghai Gold and Shanghai Silver leading the gains. Core market movements:

A-shares: As of press time, the Shanghai Composite Index rose 0.52%, the Shenzhen Component Index rose 0.77%, and the ChiNext Index fell 0.03%.

Hong Kong stocks: As of press time, the Hang Seng Index rose 1.43%, and the Hang Seng Tech Index rose 1.94%.

Bond market: Government bond futures oscillated lower. As of press time, the 30-year main contract fell 0.05%, the 10-year main contract was flat, the 5-year main contract was flat, and the 2-year main contract was flat.

Commodities: Most domestic commodity futures rose. As of press time, Shanghai Silver rose 3%, polysilicon, paper pulp, industrial silicon, palladium rose over 2%, Shanghai Tin, platinum, Shanghai Copper, Shanghai Gold, eggs rose 1%, Shanghai Nickel, Shanghai Aluminum, containerized freight index, iron ore, alumina, glass and other products rose, while soymeal, rebar, hot-rolled coil, caustic soda, stainless steel, manganese silicon, rubber, etc. fell. Asphalt, rapeseed, fuel oil, coke, lithium carbonate, etc. fell over 1%, coking coal, crude oil fell over 2%.

10:17

The Hang Seng Tech Index rose 2% during the session, with SenseTime up over 5%, Kuaishou and Horizon Robotics up over 4%.

10:07

The ChiNext Index turned negative, after previously rising over 1%.

10:02

The new A-share stock Tuolunsi quickly surged in early trading, rising nearly 1070%, and its gain from the opening price reached 30%, triggering a temporary suspension.

Tuolunsi is a leading domestic comprehensive service provider for the R&D, production, and sales of precision metal parts, dedicated to providing high-performance key process parts, process parts, structural parts, gas pipelines, and system assembly products for semiconductor equipment. At the same time, the company's process capabilities cover the laser equipment field, providing laser cavity and cooling process parts products required for high-power lasers.

09:48

Innovative drugs rebounded with volatility, Medici Xudong up over 12%, while Harbin Pharmaceutical hit the daily limit earlier, and Front Biological, Lijian Pharmaceutical, Innosville, Wanbang Pharmaceutical, Sunshine Novo, Tianjin Pharma, and Kexing Pharma followed.

On the news front, in the first half of 2026, the transaction value of China's innovative drug out-licensing (BD) reached nearly $100 billion, reaching $99.7 billion, close to 73% of the full-year 2025 total of $135.7 billion.

09:46

In early trading, the concept of glass substrates rebounded with volatility, with Yomaton and Sanxia New Material hitting the daily limit, and Longteng Optoelectronics, Rainbow Shares, MDK, and Kibing Group following.

On the news front, plasma equipment manufacturer Huisheng recently stated that, benefiting from the AI wave triggering the trend of advanced packaging, high-end substrate customers are delivering urgently with strong order intake. The company has obtained certifications from several major manufacturers and has successfully entered the strategic market for next-generation key technology glass substrates.

09:41

The semiconductor equipment sector repeatedly strengthened, with Shenda 20cm hitting two consecutive limit-ups. Earlier, Yaxing Integration and Xuguang Electronics hit the daily limit, and Guolin Technology, Maulue Optics, M&A Technology, and Tochance Technology led the gains.

On the news front, Micron Technology announced plans to increase its total investment in the US to over $250 billion by 2035, driven by surging memory demand in the AI era. The company aims to raise its US production capacity to 40% of its total DRAM output.

09:26

The Shanghai Composite Index opened down 0.13%, while the ChiNext Index rose 0.59%. Apple supply chain, 6G, optical chips, CPO, and memory concepts led gains, while oil, education, and coal stocks were weak.

09:21

The Hang Seng Index opened up 0.76%, and the Hang Seng Tech Index opened up 1.25%. Tech internet stocks and resource stocks led gains, with Lenovo Group up nearly 9%, Baidu up over 3%, Alibaba, JD.com, SMIC, etc., up over 1%. AI concepts pulled back, with Zhipu down nearly 9%.

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