A-shares fluctuated lower, with the ChiNext Index dropping over 1%. AI hardware stocks collectively adjusted, Hong Kong stocks fell collectively, Dongfang Zhenxuan rose over 10%, government bonds rebounded, and commodities declined

On August 20, the A-shares opened lower across the board, with all three major indices collectively declining in the morning session. The ChiNext Index fell nearly 2%, AI hardware stocks saw significant pullbacks, while the photovoltaic sector rose against the trend. The Hong Kong stock market opened lower and continued to decline, with the Hang Seng Technology Index dropping over 1%. Tech stocks, new consumption concepts, and pharmaceutical biotechnology all experienced widespread declines, with Xiaomi and Pop Mart both falling. XPeng rose over 4%, having previously announced its financial report. In the bond market, government bond futures rebounded across the board. In commodities, domestic commodity futures fell back, with lithium carbonate dropping over 4%. Core market performance:

A-shares: As of the time of writing, the Shanghai Composite Index fell 0.23%, the Shenzhen Component Index fell 0.71%, and the ChiNext Index fell 1.47%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index fell 0.77%, and the Hang Seng Technology Index fell 0.82%.

Bond market: Government bond futures rebounded across the board. As of the time of writing, the 30-year main contract rose 0.27%, the 10-year main contract rose 0.04%, the 5-year main contract rose 0.03%, and the 2-year main contract rose 0.04%.

Commodities: Domestic commodity futures generally declined. As of the time of writing, lithium carbonate fell over 4%, glass fell nearly 4%, coking coal, coke, industrial silicon, and rubber fell over 2%. Pulp, manganese silicon, the shipping index, hot-rolled sheets, alumina, and stainless steel fell over 1%. Polysilicon, rebar, iron ore, soybean meal, aluminum, copper, and fuel oil also declined, while eggs saw a slight increase.

09:40

Hong Kong stock Oriental Selection rebounded in the morning session, rising nearly 15% at one point. The previous day, it had experienced a sudden drop, turning from a nearly 24% increase to a decline of over 20%.

In terms of news, a rumor involving New Oriental Education Technology Group CEO Zhou Chenggang caused the stock price of Oriental Selection to plummet at the end of the trading session. As of the close of Hong Kong stocks on August 19, Oriental Selection's stock closed at HKD 34.32, down 20.89%, after previously peaking at nearly a two-year high of HKD 53.7, with an increase of over 23.5%. According to The Paper, the Director of Investor Relations at Oriental Selection stated in a WeChat group regarding this rumor: "It's a rumor, there's no such thing. We are still in the silent period for the annual report. Thank you all for your support!" The relevant person in charge of Dongfang Zhenxuan also stated: purely a rumor.

09:38

The Hang Seng Tech Index fell over 1%. Kuaishou dropped 5%, JD Health fell over 3%, and Sunny Optical Technology rose against the trend, increasing over 6%.

09:34

In the early session, computing hardware stocks collectively adjusted, with CPO and liquid-cooled servers leading the decline. Zhongheng Electric hit the limit down, Oulutong fell over 10%, and Xinyi Sheng, Shenghong Technology, Feiling Kesi, Magpow, and Tianfu Communication all dropped over 6%.

09:32

The photovoltaic sector opened actively, with Huamin shares hitting the limit up, Ainoju rising over 10%, and Yamaton, Hongyuan Green Energy, Haiyou New Materials, and Jing'ao Technology among several stocks opening high.

In news, the photovoltaic sector is holding another anti-involution meeting, with informed sources indicating that the much-anticipated detailed discussions will take place over the next two days.

09:30

Government bond futures opened, with the 30-year main contract rising 0.30%, the 10-year main contract rising 0.06%, the 5-year main contract rising 0.06%, and the 2-year main contract rising 0.02%.

09:26

The Shanghai Composite Index opened down 0.28%, and the ChiNext Index fell 1.14%. Overnight, Nvidia recorded its largest single-day drop in four months, with significant corrections in AI hardware sectors such as CPO, fiberglass, and PCB, while computing, lithography machines, and fintech concepts saw widespread declines; however, the photovoltaic sector performed well against the trend.

09:21

The Hang Seng Index opened down 0.61%, and the Hang Seng Tech Index fell 0.75%. Xiaomi and Pop Mart dropped over 2%, while XPeng rose 3.5%, having previously announced financial results.

Pharmaceutical stocks continued to adjust, with Hansoh Pharmaceutical down nearly 5%; Dongfang Zhenxuan opened nearly 5% higher after refuting false rumors, following a significant drop in the afternoon of the previous trading day.

09:01

Most commodity futures opened lower, with soda ash and glass main contracts falling over 4%, BR rubber and coking coal down over 3%, and coke, lithium carbonate, No. 20 rubber, and rubber down over 2%. Soybean meal, pulp, palm oil, polysilicon, manganese silicon, Shanghai silver, and alumina all fell over 1%.