--- title: "A-share major indices fluctuate and decline; computing hardware active, Zhongji Innolight market cap breaks 1 trillion, Hang Seng Tech Index falls over 2%, Zhipu rises 800% since listing" type: "News" locale: "en" url: "https://longbridge.com/en/news/283751979.md" description: "Liquor stocks rise across the board; YINGJIAGONGJIU hits limit up, while LAO BAI GAN JIU, SHANXI FEN WINE, Gu Jing, and others climb successively. Lithium mining concept stocks plunge; Xizang Zhufeng hits limit down, with Guocheng Mining, Tibet Mineral, Jinyuan Shares, and Zhongkuang Resources among the top decliners" datetime: "2026-04-23T07:23:45.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/283751979.md) - [en](https://longbridge.com/en/news/283751979.md) - [zh-HK](https://longbridge.com/zh-HK/news/283751979.md) --- # A-share major indices fluctuate and decline; computing hardware active, Zhongji Innolight market cap breaks 1 trillion, Hang Seng Tech Index falls over 2%, Zhipu rises 800% since listing On April 23, A-shares opened with a volatile rally in the morning session. After initially rising collectively, all three major indices turned lower. Optical modules surged then retreated. Market leader Zhongji Innolight saw its market capitalization break 1 trillion yuan. AI computing power and computing power leasing concept stocks surged. The liquor, military industry, and energy equipment sectors strengthened, while non-ferrous metals and shipping sectors adjusted collectively. Hong Kong stocks continued to open low and fall further. Both the Hang Seng Index and Hang Seng Tech Index declined. The Hang Seng Index fell nearly 1%, while the Hang Seng Tech Index dropped over 2%. Technology internet stocks generally weakened. Hua Hong Semiconductor fell more than 5%. AI application stocks showed divergence. Zhipu rose against the trend by over 5%, accumulating an 800% gain since its listing. In the bond market, government bond futures fell across the board. In commodities, most domestic commodity futures rose. **Core Market Trends:** > **A-shares**: As of press time, the Shanghai Composite Index fell 0.29%, the Shenzhen Component Index fell 0.76%, and the ChiNext Index fell 0.68%. > > > > **Hong Kong Stocks**: As of press time, the Hang Seng Index fell 0.84%, and the Hang Seng Tech Index fell 1.72%. > > > > **Bond Market**: Government bond futures fell across the board. As of press time, the 30-year main contract fell 0.03%, the 10-year main contract fell 0.02%, the 5-year main contract fell 0.02%, and the 2-year main contract fell 0.01%. > > > > **Commodities**: Domestic commodity futures rose broadly. As of press time, fuel oil rose 3%. Rubber, lithium carbonate, crude oil, polysilicon, coke, glass, and others rose over 1%. Bitumen, LME copper, hot-rolled coil, stainless steel, alumina, rebar, LME aluminum, LME nickel, eggs, LME silver, methanol, propylene, LME tin, coking coal, caustic soda, pulp, manganese silicate, platinum, iron ore, LME gold, palladium, industrial silicon, soybean meal, and rapeseed were among the few categories that declined. > > **10:08** A-share rare earth and non-ferrous metal sectors declined with volatility. China Nonferrous Metal hit the limit down. Yingsite fell over 10%. Zhangyuan Tungsten Industry, Xianglu Tungsten Industry, Shengda Resources, China Rare Earth, and others fell over 6%. **09:53** The Hang Seng Tech Index fell over 2%. Hua Hong Semiconductor, Leapmotor Auto, and XPeng Group fell more than 5%. BYD Electronic and BYD Company fell more than 4%. **09:43** Lithium mining concept stocks plunged. Xizang Zhufeng hit the limit down. Guocheng Mining, Tibet Mineral, Jinyuan Shares, and Zhongkuang Resources were among the top decliners. **** **09:40** Liquor stocks rose across the board. YINGJIAGONGJIU hit the limit up, while LAO BAI GAN JIU, SHANXI FEN WINE, Gu Jing, and others climbed successively. **** **09:33** In the morning session, optical module leader Zhongji Innolight rose nearly 3%, becoming the second computing hardware stock (after Foxconn Industrial Internet) to break a total market capitalization of 1 trillion yuan. Since April 22 last year, this stock has accumulated a gain of over 900%. **09:31** Photolithography machine and photoresist concept stocks were active at the open. Yida Shares and Baichuan Shares hit the limit up in the auction. Bayi Space, Xilong Science, Shengjian Technology, and Greendata led the gains. According to news, Samsung Electronics and SK Hynix have received notifications from Japanese suppliers stating that procurement of raw materials for products such as photoresists has been interrupted. The currently scarce raw materials are PGME and PGMEA. **09:26** The Shanghai Composite Index opened higher by 0.11%, and the ChiNext Index rose 0.43%. Memory chips, industrial gases, semiconductors, and ultra-high voltage concept stocks were active. Lithium batteries, superhard materials, short drama games, rare earth permanent magnets, and liquid-cooled server concept stocks weakened. **09:21** The Hang Seng Index opened lower by 0.25%, and the Hang Seng Tech Index fell 0.04%. NetEase, TONGCHENG Travel, and Tencent Holdings declined. 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