A-Share Market Close | Shanghai Index Closes Up 0.32% Alibaba Suddenly Announces Major News! Computing Power Surges Trigger Limit-Up Wave

Today, the market once again staged a bottoming rebound. The Shanghai Composite Index turned positive in the afternoon, with technology sectors such as chips and computing power leading the way, driving the ChiNext Index up over 2%. The total daily trading volume reached 2 trillion yuan, shrinking by over 100 billion compared to the previous trading day, with more than 3,500 stocks rising across both markets.

In the market, sectors like computing power and cloud computing surged to daily limit-ups, with companies like Meili Cloud hitting the limit. On the news front, Alibaba Cloud announced that due to the explosion in global AI demand and supply chain price increases, prices for AI computing power and storage products have risen by up to 34%. Specifically, computing cards like Pingtouge Zhenwu 810E increased by 5%-34%, and file storage products CPFS (Intelligent Computing Edition) rose by 30%.

Storage chip concepts exploded, with Beiwei Storage reaching new historical highs. According to South Korea’s Yonhap News Agency, Samsung Electronics’ union members voted to strike. Industry experts note that as the world’s largest storage chip manufacturer, a shutdown of Samsung’s production lines could take up to two months to restart, potentially causing losses of hundreds of millions of dollars. This would also exacerbate global semiconductor supply bottlenecks, impacting industries from automotive and computers to smartphones.

Other hot topics include the oscillation and rise of liquid-cooled server concepts, with Dayuan Pump, Jialitu, Ningbo Jingda, and Qiangrui Technology hitting the daily limit. The collaborative computing concept was active, with Shao Neng Shares and Guangdong Power A hitting the limit on the upside. On the downside, oil and gas stocks weakened, with Intercontinental Oil & Gas and Tongyuan Petroleum falling sharply. The chemical sector declined, with Jinniu Chemical and Luzhou Tianhua hitting the limit down.

In individual stocks, 3,554 stocks rose, 1,831 fell, and 105 remained unchanged. A total of 70 stocks hit the daily limit-up, while 14 stocks hit the limit-down.

At the close, the Shanghai Composite rose 0.32% to 4,062.98 points, with a trading volume of 876.3 billion yuan; the Shenzhen Component Index increased 1.05% to 14,187.80 points, with a volume of 1.1697 trillion yuan. The ChiNext Index gained 2.02%, closing at 3,346.37 points.

Funds Flow

Today, main funds focused on buying sectors like communication equipment, semiconductors, and IT services. Leading stocks by net inflow include New Easpring, Tianfu Communication, and Zhongji Xuchuang.

News Highlights

1. Alibaba Cloud AI computing power and storage products increased by up to 34%

Alibaba Cloud announced that due to the explosion in global AI demand and rising supply chain costs, prices for AI computing power and storage products have increased by up to 34%. Specifically, computing cards like Pingtouge Zhenwu 810E rose by 5%-34%, and the CPFS (Intelligent Computing Edition) storage product increased by 30%.

2. National Development and Reform Commission: Promoting the construction of low-altitude intelligent network systems

The NDRC stated in the report on the implementation of the 2025 national economic and social development plan and the draft 2026 plan that by 2026, efforts will be made to improve the low-altitude economy industry and innovation ecosystem, with a focus on building safe infrastructure such as low-altitude intelligent network systems.

3. Ministry of Science and Technology: Collaborating with departments and local governments to promote the construction of Beijing (Jing-Jin-Ji) International Science and Innovation Center

Deputy Minister Lin Xin said at a press conference that the Ministry of Science and Technology will work with relevant departments and local governments to promote the construction of the Beijing (Jing-Jin-Ji) International Science and Innovation Center. In strengthening regional coordination, Beijing will play a leading role, with Zhongguancun as the main base, supported by the Jing-Jin-Ji and Jing-Xiong corridors, and key points in Tianjin Binhai New Area, Xiong’an New Area in Hebei, and Shijiazhuang. The goal is to build a collaborative innovation network of “one platform, two corridors, three hubs,” to jointly map out and deploy innovation chains and industrial chains, enhance policy recognition, resource sharing, platform co-construction, and joint projects, facilitating the free flow of innovation elements and mutual advantages, and creating a world-class source of technological innovation.

Market Outlook

1. GF Securities: Once short-term geopolitical risks subside, Chinese stocks may present a bottoming opportunity

Following the US-Iran conflict, the logic and subsequent developments are uncertain: in the short term, “geopolitical experts are absent,” and the situation is highly unpredictable. In the medium term, impacts are expected to be gradually digested, and the tech industry cycle is unlikely to peak easily. Additionally, the 2026 US midterm elections will focus on “prices,” and ongoing conflicts are unlikely to be tolerated before the elections. The global bull market for non-US assets in 2026 is unlikely to be disrupted by geopolitical tensions. Therefore, once short-term risks diminish, Chinese stocks may offer the best bottoming opportunity of the year.

2. Debon Securities: A-shares may continue to show a structural market pattern

Debon Securities believes that the A-share market will likely continue to display a structural pattern, with rotations between technology growth and traditional cycles becoming the main theme. From a macro perspective, China is in a critical period of transformation and upgrading, with technological innovation and industrial upgrading as key directions. As for timing, the intensive disclosure of annual reports by listed companies begins in late March, and performance will be a key factor influencing individual stocks. Companies exceeding expectations and with confirmed growth prospects are expected to be favored, while those underperforming or with deteriorating fundamentals may face adjustments. Policy factors, such as industry policy adjustments and fiscal and monetary policy trends, should also be closely watched.

3. CITIC Construction Investment: The wave of chemical price increases continues, with the spread index soaring

Driven by post-holiday resumption and rising oil prices, among 154 chemical products, the spread index (the proportion of products with weekly price increases) reached 64.94%, up 4.55% week-over-week, indicating widespread price hikes. Unlike last week’s narrowing of the spread index, this week’s index surged to 13.65%, a 9.39% increase, reflecting the transmission of rising oil prices to midstream products. The cycle of rising prices and inventory reduction at the bottom of the cycle is expected to continue, potentially initiating a new inventory cycle.

This article is reproduced from “Tencent Stock Picks,” edited by Liu Jiayin of Zhitong Finance.

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