--- title: "AH Shares Fall: GEM Down 1%, Oil and Gas Stocks Rise Against Trend, Hang Seng Tech Index Down Over 1%, AI Large Model Stocks Plunge, Zhipu Down 15%" type: "News" locale: "en" url: "https://longbridge.com/en/news/281450676.md" description: "The shipping sector became active again, with oil transport leading the gains. CMES hit the daily limit and reached a new historical high, followed by COSCO SHIPPING Energy, Guohang Yuanyang, NJTC, Antong Holdings, and Shenghang Shipping. A-share oil and gas stocks rose against the trend, with HSPC hitting the daily limit, BEIKEN up over 8%, and KeLi Shares, Jereh Group, SHANDONG MOLONG, and Tong Petrotech following suit" datetime: "2026-04-02T08:45:46.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/281450676.md) - [en](https://longbridge.com/en/news/281450676.md) - [zh-HK](https://longbridge.com/zh-HK/news/281450676.md) --- > Supported Languages: [简体中文](https://longbridge.com/zh-CN/news/281450676.md) | [繁體中文](https://longbridge.com/zh-HK/news/281450676.md) # AH Shares Fall: GEM Down 1%, Oil and Gas Stocks Rise Against Trend, Hang Seng Tech Index Down Over 1%, AI Large Model Stocks Plunge, Zhipu Down 15% Like other Asia-Pacific markets, A-shares and Hong Kong stocks faced collective pressure in early trading today, following Donald Trump's remarks that the US would launch "extremely severe" strikes against Iran within the next two to three weeks. The market had originally expected Trump's national address to de-escalate the situation; however, he stated the war would continue until late April and threatened to strike Iran's power plants. International oil prices surged significantly, driving a rebound in oil and gas stocks. On April 2, A-shares fluctuated lower, with the three major indices collectively falling at the start of trading. The GEM Index once dropped 1%, while resource stocks such as oil and coal showed strength against the trend. Shipping stocks rallied, while concepts like AI computing power, fiberglass, and precious metals underwent adjustments. Hong Kong stocks opened lower and continued to decline, with the Hang Seng Index and the Hang Seng Tech Index both falling over 1%. Internet stocks generally moved lower, and AI application stocks saw significant adjustments, with Zhipu falling 15%. In the bond market, treasury bond futures fell across the board. Regarding commodities, most domestic commodity futures moved lower, with metal futures such as Shanghai silver, palladium, and platinum leading the declines. Core market movements: > **A-shares**: As of press time, the Shanghai Composite Index fell 0.05%, the Shenzhen Component Index fell 0.40%, and the GEM Index fell 0.96%. > > ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/416662ca-04f6-422f-8a82-036d8027e5a7.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) > > **Hong Kong Stocks**: As of press time, the Hang Seng Index fell 0.85%, and the Hang Seng Tech Index fell 1.49%. > > ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/e794f93c-5dff-4851-985b-2dd9f1d049a0.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) > > **Bond Market**: Treasury bond futures fell across the board. As of press time, the 30-year main contract fell 0.04%, the 10-year main contract fell 0.04%, the 5-year main contract fell 0.03%, and the 2-year main contract fell 0.02%. > > ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/d804c61c-32ce-483e-b0eb-66bd3374ed2e.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) > > **Commodities**: Most domestic commodity futures varieties fell. As of press time, silico-manganese rose 2%; fuel oil, Shanghai gold, rubber, Shanghai aluminum, polysilicon, and eggs trended higher. Asphalt, Shanghai copper, coke, stainless steel, coking coal, Shanghai nickel, container shipping index, hot-rolled coil, soybean meal, industrial silicon, rebar, and crude oil fell. Lithium carbonate, glass, alumina, iron ore, and caustic soda fell over 1%, while palladium, platinum, Shanghai aluminum, and Shanghai silver were among the top decliners. > > ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/fc8f1cd3-0b8c-466f-ad2e-313a82418380.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **09:55** Hong Kong large model concept stocks fell, with Zhipu down over 16% and MINIMAX down nearly 10%. **09:45** The Hang Seng Tech Index's intraday decline expanded to 1%. ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/bf20d728-d069-49fc-a6dd-fbf469835fd3.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **09:40** The shipping sector became active again, with oil transport leading the gains. CMES touched the daily limit, hitting a record high, followed by COSCO SHIPPING Energy, Guohang Yuanyang, NJTC, Antong Holdings, and Shenghang Shipping. ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/b7cb516b-df5a-46a8-b13f-62638be23a8d.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **09:36** A-share oil and gas stocks rose against the trend, with HSPC hitting the daily limit, BEIKEN up over 8%, and KeLi Shares, Jereh Group, SHANDONG MOLONG, and Tong Petrotech following suit. ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/76cb2d54-6abe-43ea-a2b6-ab45cc819866.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) On the news front, following Trump's remarks, WTI crude oil and Brent crude oil futures main contracts both rose by over 4% intraday. According to Xinhua News Agency, Trump claimed in his speech that a "swift, decisive, and overwhelming victory" had been achieved in the war against Iran. The core strategic goal of the US war against Iran is "nearing completion." Trump also stated that extremely severe strikes would be launched against Iran in the next two to three weeks. If no agreement is reached, Iran's power plants will be targeted. "We have not yet attacked their oil, although that is the easiest target." **09:31** The GEM Index fell over 1%, the Shanghai Composite Index fell 0.38%, and the Shenzhen Component Index fell 0.72%. Precious metals, computing power leasing, film and television, and photovoltaic equipment led the declines, with over 3,700 stocks falling across the Shanghai, Shenzhen, and Beijing markets. ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/de72dbe0-1907-4f83-870e-e02123654bf5.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **09:26** The Shanghai Composite Index opened 0.2% lower, and the GEM Index fell 0.55%. Lithium batteries, photovoltaics, aluminum, advanced packaging, semiconductor equipment, energy metals, and gold concept stocks were among the top decliners, while oil and gas and memory sectors strengthened. ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/4b74e1ea-e20d-4e49-a13c-31b5180f4823.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **09:21** The Hang Seng Index opened 0.16% lower, and the Hang Seng Tech Index fell 0.49%. Bilibili, Alibaba, Kingsoft, and Xiaomi Group were among the top decliners, while Wuxi Biologics, CMOC, and Hansoh Pharmaceutical were among the top gainers. ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/2f8231fa-faf8-41f7-adfd-9966597e86db.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) **09:01** Domestic commodity futures mostly opened lower, with the container shipping index (Europe route) down over 6%, LU fuel oil down over 5%, fuel oil, BR rubber, and styrene down over 4%, and LPG and asphalt down over 3%. Shanghai gold rose over 2%, while Shanghai zinc and Shanghai silver rose over 1%. ![Image](https://imageproxy.pbkrs.com/https://wpimg-wscn.awtmt.com/47e28e21-7e76-4925-99da-142b70f79219.png?x-oss-process=image/auto-orient,1/interlace,1/resize,w_1440,h_1440/quality,q_95/format,jpg) ### Related Stocks - [COSCO SHIP ENGY (01138.HK)](https://longbridge.com/en/quote/01138.HK.md) - [HSPC (603353.CN)](https://longbridge.com/en/quote/603353.CN.md) - [Jereh Group (002353.CN)](https://longbridge.com/en/quote/002353.CN.md) - [Shandong Molong (002490.CN)](https://longbridge.com/en/quote/002490.CN.md) - [BEIKEN (002828.CN)](https://longbridge.com/en/quote/002828.CN.md) - [Tong Petrotech (300164.CN)](https://longbridge.com/en/quote/300164.CN.md) - [SHANDONG MOLONG (00568.HK)](https://longbridge.com/en/quote/00568.HK.md) - [NJTC (601975.CN)](https://longbridge.com/en/quote/601975.CN.md) - [CMES (601872.CN)](https://longbridge.com/en/quote/601872.CN.md) - [COSCO SHIPPING Energy (600026.CN)](https://longbridge.com/en/quote/600026.CN.md) ## Related News & Research - [Shandong Molong to consider unaudited first-quarter results at board meeting](https://longbridge.com/en/news/281518893.md) - [Trump's fresh Iran threats give investors a risk-off reality check](https://longbridge.com/en/news/281476835.md) - [China CSSC to build 10 Massive Oil Tankers for CMES](https://longbridge.com/en/news/281163707.md) - [BREAKINGVIEWS-US will keep dancing to global energy tune](https://longbridge.com/en/news/281397738.md) - [A Recession Model That's Never Been Wrong Just Hit 49%. That Was Before the Iran War.](https://longbridge.com/en/news/281383747.md)