The A-shares opened lower, the Shanghai Composite Index fluctuated and rose, the semiconductor sector was active, Hong Kong stocks fell, Baidu dropped over 3%, XPeng rose over 9%, and government bonds collectively rose

A-shares opened lower, the Shanghai Composite Index fluctuated and rose in the morning session, the semiconductor sector was active, and the port sector corrected. The Hong Kong stock market's Hang Seng Index and Hang Seng Tech Index opened lower and continued to decline, XPeng surged nearly 10%, while Baidu fell over 3%. In terms of commodities, the shipping index for Europe dropped over 4%. In the bond market, government bond futures rose across the board. Core market trends: A-shares: As of the time of writing, the Shanghai Composite Index rose 0.02%, the Shenzhen Component Index fell 0.22%, and the ChiNext Index fell 0.44%. Hong Kong stocks: As of the time of writing, the Hang Seng Index fell 0.43%, and the Hang Seng Tech Index fell 0.17%. Bond market: Government bond futures strengthened, with the 30-year main contract rising 0.17%, the 10-year main contract rising 0.07%, the 5-year main contract rising 0.07%, and the 2-year main contract rising 0.03%. 【09:59】 The semiconductor sector in A-shares was active, with Hitec rising to the daily limit, and Fuman Micro, Wingtech Technology, and Silan Micro following suit. 【09:40】 The consumer sector was active at the beginning of the session, with pet economy and medical beauty leading the self-consumption direction. Two-sided needles, Dongzhu Ecology, and Anzheng Fashion hit the daily limit, while Lafang Cosmetics, Jiaheng Cosmetics, Liren Lizhuang, and Yimin Group saw significant gains. 【09:39】 As of the time of writing, Baidu once fell over 3%. Baidu released its Q1 2025 financial report showing revenue of 32.45 billion yuan, exceeding expectations, a year-on-year increase of 3%, profit increased by 42% year-on-year, intelligent cloud growth reached 42%, and the number of Luobo Kuai Pao orders increased by 75% year-on-year, with global mobility service occurrences exceeding 11 million. As of the time of writing, XPeng rose 9.03%. In terms of news, XPeng's revenue in the first quarter was 15.81 billion yuan, a year-on-year increase of 141.5%; the adjusted net loss attributable to shareholders was 430 million yuan, narrowing by 69.8% year-on-year. XPeng's chairman He Xiaopeng stated that the company expects delivery volumes to reach 102,000 to 108,000 units in Q2 2025, with a year-on-year increase of over 250%, and aims to achieve profitability in Q4. 【09:30】 Government bond futures opened, with the 30-year main contract up 0.05%, the 10-year main contract up 0.03%, the 5-year main contract up 0.06%, and the 2-year main contract up 0.03%. 【09:20】 The Hang Seng Index opened down 0.33%, at 23,748.58 points; the Hang Seng Tech Index fell 0.11%. XPeng rose 9.7%, Baidu fell over 2%, and Alibaba, Lenovo, JD.com, and others fell over 1%. 【09:01】 Domestic commodity futures opened mixed in the morning. Alumina, soybean meal, and others rose over 1%, while soda ash and iron ore saw slight increases; the shipping European route fell over 4%, crude oil and fuel oil fell over 1%, and short fibers and caustic soda saw slight declines