AH shares rose in the morning! The three major stock indices collectively increased, with strong activity in consumer sectors. The Hang Seng Index and the Hang Seng Tech Index surged, innovative drugs exploded, while commodities and government bonds showed divergence

On Thursday, July 17, the A-shares rose in the early session, with all three major indices increasing. The pharmaceutical sector strengthened, the consumer sector was active, and the stablecoin concept saw a temporary surge. The Hong Kong stock market also rose in the early session, with both the Hang Seng Index and the Hang Seng Tech Index increasing. The biotechnology sector exploded, tech stocks rose, while the new consumption sector continued to decline, with Mixue Group dropping over 3%. In terms of commodities, domestic commodity futures showed divergence, with polysilicon rising over 2%, and the main contract of the European shipping index falling over 4%. In the bond market, government bond futures showed mixed results. Core market trends:

A-shares: As of the time of writing, the Shanghai Composite Index rose by 0.07%, the Shenzhen Component Index rose by 0.57%, and the ChiNext Index rose by 0.58%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index rose by 0.40%, and the Hang Seng Tech Index rose by 0.54%.

Bond market: Government bond futures showed divergence. As of the time of writing, the 30-year main contract fell by 0.04%, the 10-year main contract fell by 0.01%, the 5-year main contract remained flat, and the 2-year main contract remained flat.

09:55

Hong Kong biotechnology stocks strengthened at the beginning of the session, with CanSino Biologics rising over 10%, Kelun-Bio rising over 6%, BeiGene rising over 5%, and Kingstar Bio, Tigermed, and others rising over 4%.

In terms of news, recently, the adjustment of the national basic medical insurance, maternity insurance, and work-related injury insurance drug catalog and the commercial health insurance innovative drug catalog for 2025 has officially started, with the first addition of the commercial insurance innovative drug catalog this year. Guotou Securities has been tracking research, and as of May 2025, data shows that several domestically innovative drug products newly included in the medical insurance for 2025 are rapidly entering hospitals.

Goldman Sachs previously pointed out that the overall market value of Chinese biotechnology companies is still only 14%-15% of their American counterparts, while their contribution to global innovation is close to 33%. This means that the Chinese innovative drug sector is still in the "value pit" stage, and the global capital reassessment has just begun.

09:54

A-share innovative drug concept stocks maintained their strength, with WECOME hitting the 20% limit up, Chengdu XianDao rising over 10%, Lishengpharma and HSGC hitting the limit up, and Boji Pharmaceutical, Angli Kang, Thalys, Shenzhou Cell, Mabwell, Fudan Zhangjiang, and several other stocks rising over 5%

09:47

A-share pharmaceutical stocks rose, with antibiotics, CRO, and other sectors leading the gains. Among them, Angli Kang, Xinlitai, and Asia-Pacific Pharmaceutical had significant increases, with Chengdu Xian Dao rising over 16%. Boji Pharmaceutical, Yaoshi Technology, and Hongbo Pharmaceutical also saw gains.

09:42

Retail stocks showed unusual upward movement in the morning session, with Guoguang Chain and Guofang Group hitting the daily limit. Zhongbai Group, Bubugao, Xujiahui, Sanjiang Shopping, and Guangbai Co., Ltd. also followed suit.

In terms of news, according to Xinhua News Agency, on July 16, the State Council meeting proposed to deeply implement special actions to boost consumption, systematically eliminate unreasonable restrictions on residents' consumption, optimize the old-for-new policy for consumer goods, and increase diversified supply in line with the rising demand for residents' consumption.

09:29

The A-share photovoltaic sector opened actively, with Shuangliang Energy and Huangshi Group hitting the daily limit. Zhonglai Co., TCL Zhonghuan, Yijing Optoelectronics, Oujing Technology, and GCL-Poly Energy also opened high.

According to the Silicon Industry Branch of the China Nonferrous Metals Industry Association, this week, the transaction price range for multicrystalline silicon N-type re-investment materials was 40,000-49,000 yuan/ton, with an average transaction price of 41,700 yuan/ton, up 12.4% week-on-week. The transaction price range for N-type granular silicon was 40,000-45,000 yuan/ton, with an average transaction price of 41,000 yuan/ton, up 15.2% week-on-week.

09:26

The Shanghai Composite Index opened down 0.1%, and the ChiNext Index fell 0.07%. Hydrogen energy, deep-sea technology, PEEK materials, stablecoins, photovoltaic glass, and cross-border payment themes were active; CPO, high-speed copper connections, and rare earth permanent magnet concept stocks declined. Shangwei New Materials hit the daily limit with a 20% increase, recording its seventh consecutive limit-up.

09:21

The Hang Seng Index opened up 0.12%, reporting 24,547.08 points; the Hang Seng Tech Index fell 0.02%. Baidu dropped 4.5%, Nio fell 3.5%; Sunny Optical Technology rose over 2%, Li Auto, Bilibili, and Meituan rose over 1%.

09:01

Commodity futures opened, with the main contract for polysilicon rising over 3%, iron ore, cotton, soybean meal, cotton yarn, hot-rolled steel, and soybean No. 2 rising over 1%. The shipping index for Europe fell over 2%, and alumina and LU fuel fell over 1%.