A-share three major indices fluctuate higher, large-cap financials rebound, computing power hardware adjusts across the board, Hang Seng Tech Index rises over 2%, tech stocks collectively surge

All Chinese A-shares hardware stocks experienced a broad correction, with declines in CPO, optical communications, optical chips, and copper-clad laminates. On the news front, NVIDIA CEO Jensen Huang recently stated that NVIDIA’s new AI acceleration chip architecture Blackwell and the next-generation Rubin products will generate at least $1 trillion in revenue by the end of 2027.

On March 17, Chinese A-shares fluctuated upward, with the three major indices rising collectively in the early trading session. Large financials, liquor, steel sectors led the gains, real estate stocks strengthened, and chemical stocks were active. Hong Kong stocks continued to rise, with the Hang Seng Index up over 1%, the Hang Seng Tech Index up more than 2%. Tech stocks rebounded again, with Alibaba up nearly 3%, and new energy vehicles surged, with Leapmotor up 6%.

In the bond market, Chinese government bond futures fluctuated higher. In commodities, most domestic futures rose, with platinum, palladium, and other metals leading gains. Shipping indices and crude oil futures declined. Market highlights:

A-shares: As of the report, Shanghai Composite rose 0.34%, Shenzhen Component up 0.23%, ChiNext Index up 0.15%.
Hong Kong stocks: As of the report, Hang Seng Index up 1.49%, Hang Seng Tech Index up 2.16%.
Bond market: All government bond futures rose, with the 30-year main contract up 0.08%, the 10-year main contract up 0.02%, the 5-year main contract up 0.02%, and the 2-year main contract up 0.01%.
Commodities: Domestic commodity futures mostly increased, with platinum and alumina up over 4%, palladium and asphalt up over 3%, lithium carbonate and Shanghai tin up over 2%, and iron ore, manganese silicon, Shanghai copper, rubber, nickel, stainless steel, and polysilicon also rising. Declines were seen in coking coal, coke, Shanghai gold, eggs, with fuel oil, crude oil, and glass down over 1%, and shipping indices down over 3%.

10:26

Innovative drugs surged, with Rongchang Bio up nearly 7%, hitting a new high. San Sheng Guojian, Yuan Dong Bio, Yuekang Pharmaceutical, Junshi Biosciences, Bibert, and Yifang Bio also gained.

On the news front, the Ministry of Industry and Information Technology held a cadre meeting emphasizing the cultivation and expansion of emerging and future industries, including biomedicine, to build new pillar industries and promote mechanisms for future industry investment growth and risk sharing.

10:22

CPO sector declined collectively, with Tianfu Communications down 9%, Changguang Huaxin, Guangku Technology, and Changxin Bochuang among the biggest losers.

In news, NVIDIA CEO Jensen Huang announced several major technological breakthroughs at GTC 2026, including the Feynman next-generation AI chip architecture, which uses TSMC’s 1.6nm A16 process and incorporates optical communication technology. It is expected to be launched in 2028 and could reduce AI data center communication energy consumption by over 70%.

10:17

Yao Cai Securities soared over 60%. Reports indicate that Ant Group’s tender offer has been approved by relevant Chinese authorities, with completion expected by March 30.

10:04

Hang Seng Tech Index expanded its gains to 2%, with Leapmotor up over 5%, and Li Auto and Meituan up nearly 4%.

10:03

Large financial stocks strengthened, with Aijian Group hitting the daily limit. Guoxin Securities, East Money, Huijin Shares, GF Securities, Zhinan Zhen, Dazhihui, and Caifu Trends followed suit. Hangzhou Bank hit a new high during trading.

09:40

The real estate sector was active, with Zhongzhou Holdings hitting the daily limit. I Love My Home, Jinneng Real Estate, Tefa Services, Everbright Jiarbo, and Caixin Development also gained.

On the news, according to the People’s Bank of China website, the Shanghai branch of the People’s Bank of China, together with the Shanghai Regulatory Bureau of the National Financial Supervision and Administration, issued a notice adjusting the minimum down payment ratio for commercial property loans in Shanghai. Starting March 16, 2026, the minimum down payment ratio will be no less than 30%.

09:37

Hong Kong stocks rose during the session, with the Hang Seng Index up nearly 1%, and the Hang Seng Tech Index up 1.5%.

09:35

The chemical sector strengthened again, with Shandong Haihua hitting the daily limit, Jiangtian Chemical up over 10%, and Sanwei Chemical, Tianyuan Shares, and Red Star Development also gaining.

09:32

Photovoltaic equipment stocks opened strong, with Huamin Shares up over 12%, Maiwei Shares up more than 7%, and Guosheng Technology, JA Solar, Shuangliang Eco-Energy, and Autowell also rising.

09:26

Shanghai Composite opened up 0.04% at 4086.3 points, ChiNext up 0.85%, Shenzhen Component up 0.44%. Photovoltaic cells and high-speed copper connection concepts led gains, while wind power and stablecoins declined. Oil and natural gas, coal, and power generation equipment sectors were weak.

09:21

Hang Seng Index opened up 0.4% at 25,938.43 points, with the Hang Seng Tech Index up 0.5%, and the Hang Seng China Enterprises Index up 0.27%. NIO rose over 2%, Li Auto nearly 2%. Alibaba gained over 1%, and the Alibaba Token Hub business group was established, directly led by CEO Wu Yongming.

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