--- title: "GEM Falls 2%; Power Stocks Rise Against the Trend, CPO and Computing Hardware Adjust; Hang Seng Tech Index Surges Then Retreats; Semiconductors Plunge" type: "News" locale: "en" url: "https://longbridge.com/en/news/286845245.md" description: "AI computing concept stocks in A-shares and Hong Kong stocks underwent a collective adjustment, with the GEM falling 2% and the Hang Seng Tech Index surging then retreating. US tech stocks faced pressure, with the chip index dropping nearly 2.5%. Power stocks rose against the trend, while computing hardware such as optical modules generally fell. Hong Kong market performance diverged, with the Hang Seng Index rising 0.38% and the Hang Seng Tech Index falling 0.18%. In the bond market, treasury futures rose; commodity futures showed mixed performance, with lithium carbonate plunging over 4%" datetime: "2026-05-19T02:43:44.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/286845245.md) - [en](https://longbridge.com/en/news/286845245.md) - [zh-HK](https://longbridge.com/zh-HK/news/286845245.md) --- # GEM Falls 2%; Power Stocks Rise Against the Trend, CPO and Computing Hardware Adjust; Hang Seng Tech Index Surges Then Retreats; Semiconductors Plunge AI computing concept stocks in A-shares and Hong Kong stocks underwent a collective adjustment, dragging down the performance of the GEM and the Hang Seng Tech Index. Overnight, US tech stocks faced pressure, with the chip index dropping nearly 2.5%. Seagate Technology, a memory stock, closed down nearly 7%, and Micron fell nearly 6%. On May 19, A-shares fluctuated downward in early trading. The three major indices opened lower collectively, with the Shenzhen Component Index falling more than 1% and the GEM dropping 2%. Power stocks surged again, lifting green energy concepts, while computing hardware stocks generally fell, with adjustments seen in optical modules, optical communications, and optical circuit switches. Hong Kong stocks showed divergent trends. The Hang Seng Index fluctuated higher, while the Hang Seng Tech Index surged before retreating. Most internet and technology stocks rose, with Alibaba, Tencent, NetEase, and Baidu moving higher. Semiconductors fell collectively, with Hua Hong Semiconductor and SMIC leading the declines. In the bond market, treasury futures rose collectively. In commodities, domestic commodity futures were mixed. The container shipping index rose nearly 2%, while lithium carbonate plunged more than 4%. Key market movements: > **A-shares**: As of press time, the Shanghai Composite Index fell 0.25%, the Shenzhen Component Index fell 1.38%, and the GEM Index fell 1.89%. > > > > **Hong Kong Stocks**: As of press time, the Hang Seng Index rose 0.38%, and the Hang Seng Tech Index fell 0.18%. > > > > **Bond Market**: Treasury futures fluctuated upward. As of press time, the 30-year main contract rose 0.12%, the 10-year main contract rose 0.08%, the 5-year main contract rose 0.05%, and the 2-year main contract rose 0.01%. > > > > **Commodities**: Domestic commodity futures were mixed. As of press time, soybean meal, the container shipping index, and eggs rose more than 1%. Shanghai silver, Shanghai aluminum, rapeseed, platinum, Shanghai gold, crude oil, rubber, and Shanghai copper rose. Industrial silicon, manganese silicon, asphalt, polysilicon, hot-rolled coil, caustic soda, rebar, stainless steel, iron ore, coking coal, alumina, fuel oil, and glass all fell. Lithium carbonate plunged more than 4%. > > **10:16** CPO concept stocks fell collectively. Lante Optics dropped more than 10%. Focuslight Technologies, Lianxun Instruments, Accelink Technologies, Tianfu Communication, Changxin Bochuang, and Taichenguang all fell more than 7%. **10:08** Hong Kong memory concept stocks retreated collectively. CSOP 2x Long Hynix fell more than 12%, and CSOP 2x Long Samsung Electronics fell more than 11%. Montage Technology dropped more than 7%, and GigaDevice fell more than 5%. **09:56** The semiconductor materials sector fluctuated and adjusted during the session. China Special Gas fell more than 10%. Saiying Electronics, Xingfu Electronics, SICC, Leading Ideal Electric, and Kema Technology were among the top decliners. **09:44** MLCC concept stocks repeatedly strengthened. Fenghua Advanced Technology hit the daily limit up. Yunzhong Technology rose more than 10%. Sinocera Material, Three-Circle Group, and Dali Capital followed with gains. According to a research report by China Securities, as the power consumption of AI servers continues to grow, the quantity and quality requirements for chip inductors and chip capacitors serving GPUs/TPUs have significantly increased. Based on the projected shipments of GPUs/TPUs in 2027 and 2028, the chip inductor and chip capacitor industries are expected to see explosive growth. **09:40** Computing power leasing concepts continued their strong performance. Hongxin Electronics and Jiahuan Technology achieved their second consecutive daily limit up. Nongshang Environment, Nanwei Software, Oriental Nations, and Zhongbei Communication followed with gains. In terms of news, Hongxin Electronics' subsidiary, Suihong Huachuang Token Factory, officially established its global headquarters in Wuxi High-tech Zone and deployed Jiangsu's first batch of Huawei Ascend 384 super-node clusters. **09:38** Green energy concepts showed unusual strength and rose in early trading. Huaneng Mengdian hit the daily limit up directly. Tuori New Energy, Jingneng Power, Huaguang Energy, Datang Power, and Jiantou Energy followed with gains. In terms of news, according to China Electric Power News, on May 14, large data centers in China participated in spot electricity trading in the form of virtual power plants for the first time domestically, achieving "computing follows electricity." **09:26** The Shanghai Composite Index opened 0.21% lower, and the GEM Index fell 0.53%. Computing hardware and the semiconductor supply chain weakened, with memory and CPO sectors leading the declines. E-commerce, lithium mining, commercial aerospace, and space photovoltaic themes were among the top decliners. Brain-computer interface, Unitree Robotics, smart logistics, and AI application concept stocks strengthened. **09:21** The Hang Seng Index opened 0.07% higher, while the Hang Seng Tech Index fell 0.14%. Tencent Music rose more than 3%, and NetEase and Bilibili rose more than 2%. XPeng Group fell more than 2%, while JD.com and SMIC were among the top decliners. **09:01** Domestic commodity futures opened with mixed gains and losses. Precious metals led the gains, with Shanghai silver rising 1.50%. Most agricultural and sideline products rose, with eggs up 1.38%. Most oils and oilseeds rose, with Soybean No. 2 up 1.30%. Most base metals rose, with Shanghai tin up 1.05%. Energy products led the declines, with low-sulfur fuel oil down 1.63%. Most chemical products fell, with ethylene glycol down 1.42%. All black series commodities fell, with ferrosilicon down 1.40%. All new energy materials fell, with lithium carbonate down 0.68%. All non-metallic building materials fell, with glass down 0.39%. All shipping futures fell, with the container shipping index (Europe route) down 0.21%. Risk Warning and Disclaimer The market carries risks; investment requires caution. This article does not constitute personal investment advice and does not take into account the specific investment objectives, financial status, or needs of individual users. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. 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