The ChiNext market fluctuated but rose by 1%. Oil & gas and coal rallied in defiance of the trend, while computing power hardware fell again. The Hang Seng Tech Index dropped by more than 1%, and tech and internet stocks broadly fell.

On July 14, A-shares opened mixed but then saw a choppy selloff; the three major stock indexes all moved lower in the early part of trading. The Shanghai Composite Index briefly fell below 3,900, then quickly rebounded, returning above 3,900. The ChiNext Index rose 1%. Sectors such as coal and oil & natural gas climbed against the trend, while concept stocks including commercial aerospace, servers, and industrial gases all adjusted lower. Aerospace defense and software sectors fell.

Hong Kong stocks opened lower and trended downward; the Hang Seng Index and Hang Seng Tech Index both fell by more than 1%. Internet-related stocks generally declined, with Baidu down by more than 7%. AI large-model stocks pulled back, with Zhipu and MINIMAX both down by more than 5%. In the bond market, government bond futures fell across the board. In commodities, most domestic commodity futures declined; crude oil and fuel jumped sharply against the trend, driven by an escalation in geopolitical tensions, pushing international oil prices to surge overnight. Core-market performance:

A-shares: As of the time of writing, the Shanghai Composite Index was down 0.05%, the Shenzhen Component was up 0.24%, and the ChiNext Index was up 0.59%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index was down 1.10%, and the Hang Seng Tech Index was down 1.36%.

Bond market: Government bond futures fell across the board. As of the time of writing, the 30-year benchmark contract was down 0.18%, the 10-year benchmark contract was down 0.05%, the 5-year benchmark contract was down 0.02%, and the 2-year benchmark contract was down 0.01%.

Commodities: Most domestic commodity futures traded lower. As of the time of writing, crude oil surged 8%, fuel rose more than 7%, asphalt gained 6%, and stainless steel and industrial silicon rose more than 1%. Carbonate lithium, iron ore, SHFE aluminum, SHFE copper, SHFE nickel, rapeseed, manganese silicon, coking coal, hot-rolled coils, rubber, and other products were up. Meanwhile, rebar, soybean meal, alumina, polysilicon, caustic soda, pulp, glass, coking coke, and others fell. Eggs, the container shipping index, SHFE tin, palladium, platinum, and other items dropped by more than 1%, SHFE gold fell by more than 2%, and SHFE silver fell again by more than 3%.

09:55

The ChiNext Index quickly rebounded to rise 1%; the Shanghai Composite Index neared a full turn positive and returned above 3,900.

09:50

The Hang Seng Tech Index’s intraday decline widened to 2%; Baidu and Zhipu both fell by more than 7%.

09:43

In the morning, the semiconductor equipment sector saw choppy gains and a rebound; Yitang Co., Ltd. rose by more than 10%, while Topcontact, HUA FENG MEASUREMENT AND CONTROL, LianDong Technology, and Sancorp Flying Test all moved up in tandem.

According to media reports, Samsung Electronics is planning to accelerate construction at the semiconductor national industrial park in Yongin, Gyeonggi-do, South Korea, so that its production start will be brought forward by one to two years compared with the original plan. The company aims to achieve mass production and operations in 2029.

09:41

The SSE Composite Index was down 0.5%, falling below 3,900. More than 3,500 stocks in the market were down.

09:31

In the morning, the oil & gas sector was active; Keli Co., Ltd. rose by more than 10%, followed by Tongyuan Petroleum, Sinman Petroleum, Qianeng Hengxin, Shandong Molong, and Sinopec Petroleum Service moving up.

News: The escalation of the Iran-U.S. conflict triggered a surge in international oil prices. On July 13, the WTI crude oil futures settlement price closed at $78.14 per barrel, up $6.73, or 9.42%. Brent crude oil futures settlement price closed at $83.30 per barrel, up $7.29, or 9.59%.

09:26

The SSE Composite Index opened down 0.12%, while the ChiNext Index rose 0.16%. Stocks related to gold, PEEK materials, commercial aerospace, and CRO concepts weakened; oil & gas, retail, and real estate sectors strengthened, and server and lithography-related themes were active.

09:21

The Hang Seng Index opened down 0.13%, and the Hang Seng Tech Index fell 0.25%. China Petroleum & Chemical rose more than 3%; CNOOC rose more than 2%; NIO rose nearly 3%; and Baidu Group fell more than 3%.

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