--- title: "AH shares fluctuated lower, the ChiNext dropped 0.3%, the steel sector became active again, the Hang Seng Index fell nearly 2%, tech stocks broadly declined, while commodities and government bonds both rose" type: "News" locale: "en" url: "https://longbridge.com/en/news/247232199.md" description: "A-share steel stocks continue to strengthen, LIU STEEL CO has four consecutive limit-ups, with Shengde Xintai, LINGSTEEL, AYIS, BSP, and Xining Special Steel also rising. Hong Kong stocks in the technology and automotive sectors are all experiencing sharp declines, with Alibaba down over 2%, MEITUAN and JD.com down over 1%, Xiaomi down 1.5%, and XPeng down over 5%" datetime: "2025-07-04T08:50:09.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/247232199.md) - [en](https://longbridge.com/en/news/247232199.md) - [zh-HK](https://longbridge.com/zh-HK/news/247232199.md) --- # AH shares fluctuated lower, the ChiNext dropped 0.3%, the steel sector became active again, the Hang Seng Index fell nearly 2%, tech stocks broadly declined, while commodities and government bonds both rose On July 4th, Friday, the A-shares opened slightly lower, with the three major indices fluctuating downwards in the morning session, while sectors such as computing power and steel were active. The Hong Kong stock market opened lower and continued to decline, with the Hang Seng Index and the Hang Seng Tech Index both dropping over 1%, and tech stocks and other weighted sectors continued to fall across the board. In the bond market, government bond futures rose collectively. In terms of commodities, domestic commodity futures mostly rose, with black commodities continuing to increase. Core market trends: > **A-shares**: As of the time of writing, the Shanghai Composite Index rose slightly by 0.02%, the Shenzhen Component Index fell by 0.44%, and the ChiNext Index fell by 0.44%. > > > > **Hong Kong stocks**: As of the time of writing, the Hang Seng Index fell by 1.38%, and the Hang Seng Tech Index fell by 1.71%. > > > > **Bond market**: Government bond futures rose collectively. As of the time of writing, the 30-year main contract rose by 0.07%, the 10-year main contract rose by 0.02%, the 5-year main contract rose by 0.01%, and the 2-year main contract remained flat. > > **10:12** The A-share banking sector strengthened again, with Shanghai Pudong Development Bank, Shanghai Bank, Jiangsu Bank, and Beijing Bank all reaching historical highs, while Zhejiang Commercial Bank, CITIC Bank, Huaxia Bank, and China Everbright Bank saw significant gains. **10:10** The Hang Seng Tech Index fell nearly 2% at one point, with Alibaba Health dropping over 7%. **09:56** Hong Kong tech stocks and automotive stocks fell sharply across the board, with Alibaba down over 2%, Meituan and JD.com down over 1%, Xiaomi down 1.5%, and XPeng down over 5%. **** Regarding the simultaneous decline of Alibaba, JD.com, and Meituan, according to Chasing Wind Trading Platform, Goldman Sachs stated in its latest report that this delivery battle is expected to last longer and warned of profit pressure, with all three experiencing a decline in profits in the short term **09:37** A-share computing power concept stocks strengthened at the beginning of the session, with Data Harbor hitting the daily limit, Runze Technology rising over 8%, and AoFei Data, Kehua Data, Industrial Fulian, and Guanghuan Xinwang all climbing. **09:32** A-share steel stocks continued to strengthen, with LIU STEEL CO achieving four consecutive limits, and Shengde Xintai, LINGSTEEL, AYIS, BSP, and Xining Special Steel following suit. **09:27** A-share photovoltaic concept stocks remained active, with Yamaton and Yijing Optoelectronics achieving three consecutive limits, and Ainuoju, Haitai New Energy, GCL-Poly Energy, and Daqo New Energy opening higher. **09:21** The Hang Seng Index opened down 0.70%, at 23,900.69 points; the Hang Seng Tech Index fell 0.75%. Alibaba Health dropped 4.9%, XPeng fell nearly 2%, and Tencent, MEITUAN, NetEase, and Xiaomi all declined over 1%. **09:01** Commodity futures opened, with the main contract for the European shipping index rising over 2%, and iron ore, polysilicon, styrene, and industrial silicon all increasing over 1% ### Related Stocks - [600231.CN](https://longbridge.com/en/quote/600231.CN.md) - [000761.CN](https://longbridge.com/en/quote/000761.CN.md) - [601003.CN](https://longbridge.com/en/quote/601003.CN.md) - [600569.CN](https://longbridge.com/en/quote/600569.CN.md) - [03690.HK](https://longbridge.com/en/quote/03690.HK.md) ## Related News & Research - [This High-Yield REIT Just Hiked Its Dividend By 7.1%. 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