The three major A-share indices rose collectively, with a significant increase in the biopharmaceutical sector. CPO continues to squeeze shorts, while Hong Kong stocks fluctuated and fell, tech stocks retreated, and government bonds and commodities declined

On August 19, the A-shares fluctuated and rose, with all three major indices collectively increasing in the morning session. Sectors such as communication equipment and pharmaceuticals saw gains, while AI hardware stocks like optical modules (CPO), liquid-cooled servers, and MCU chips were active.

The Hong Kong stock market experienced fluctuations and consolidation, with the Hang Seng Index declining in the morning. Most large tech stocks fell, while sectors like steel and non-ferrous metals rose. In the bond market, government bond futures continued to decline. In terms of commodities, most domestic commodity futures fell, with coking coal dropping over 1%.

Core market performance:

A-shares: As of the time of writing, the Shanghai Composite Index rose by 0.41%, the Shenzhen Component Index rose by 0.50%, and the ChiNext Index rose by 0.89%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index fell by 0.07%, and the Hang Seng Tech Index fell by 0.44%.

Bond market: Government bond futures continued to decline. As of the time of writing, the 30-year main contract fell by 0.16%, the 10-year main contract fell by 0.04%, the 5-year main contract fell by 0.02%, and the 2-year main contract remained flat.

Commodities: Most domestic commodity futures fell. As of the time of writing, alumina, eggs, lithium carbonate, coking coal, ferrosilicon, and fuel oil fell over 1%. The shipping index, rebar, industrial silicon, asphalt, pulp, iron ore, stainless steel, copper, and hot-rolled sheets also declined, with only polysilicon, soybean meal, and rubber seeing slight increases.

News: With the upward movement of the A-share market, the margin trading balance further increased. As of August 18, 2025, the margin trading balance exceeded 2.1 trillion yuan, marking the first time in 10 years that it has surpassed this level. As of August 18, the financing balance on the Shanghai Stock Exchange was reported at 1,057.181 billion yuan, an increase of 19.425 billion yuan from the previous trading day; the financing balance on the Shenzhen Stock Exchange was reported at 1,023.931 billion yuan, an increase of 19.791 billion yuan from the previous trading day; the total for both markets was 2,081.112 billion yuan, an increase of 39.216 billion yuan from the previous trading day.

09:48

The ChiNext Index rose over 1%, the Shanghai Composite Index rose by 0.44%, and the Shenzhen Component Index rose by 0.59%. Sectors such as diesel generators, CPO, innovative drugs, and medical devices led the gains, with nearly 2,800 stocks in the Shanghai, Shenzhen, and Beijing markets rising

09:41

The A-share innovative drug sector has seen a short-term surge, with Kanion Pharmaceutical hitting the daily limit, and Gan & Lee, Nosseland, Xintian Pharma, and others rising.

09:38

The CPO concept continues to push higher, with Zhongji Xuchuang rising over 4%, and its total market value surpassing 300 billion yuan; Cambridge Technology has achieved three consecutive boards in five days, and Dekeli has risen over 10%.

09:29

Government bond futures opened, with the 30-year main contract down 0.03%, the 10-year main contract up 0.03%, the 5-year main contract up 0.03%, and the 2-year main contract up 0.01%.

09:21

The Hang Seng Index opened up 0.26%, at 25,241.29 points; the Hang Seng Technology Index rose 0.24%. Tongcheng Travel rose over 4%, and Midea rose over 2%; Li Auto and Nio fell 0.8%.

09:01

Commodity futures opened, with coking coal main contracts down over 2%, industrial silicon, alumina, caustic soda, eggs, and methanol down over 1%. Rapeseed meal and paraxylene rose over 1%.