AH shares opened high and rose further, with the ChiNext and Shenzhen Component Index up nearly 1%. Autonomous driving and real estate led the gains, while the commercial aerospace sector continued its strong performance, with the Hang Seng Tech Index rising over 1%. Biopharmaceutical stocks surged

A-shares opened high and rose, with the Shanghai Composite Index strengthening in the morning and both the Shenzhen Component Index and the ChiNext Index rising nearly 1%. Sectors such as retail, dairy, real estate, and autonomous driving led the gains; precious metals, insurance, and semiconductors fell against the trend; new stock Youxun Co., Ltd. surged 345% on its first day of listing. On December 19, A-shares rose, with the Shanghai Composite Index up 0.59%, the Shenzhen Component Index up 0.93%, and the ChiNext Index up 0.99% at the midday close. On the market, more stocks rose than fell, with nearly 4,700 stocks in the Shanghai, Shenzhen, and Beijing markets in the green, and a total turnover of 1.1 trillion yuan in the morning session. Specifically, the consumer sector exploded again, with retail and dairy leading the gains, and multiple stocks such as Dongbai Group and Zhuangyuan Pasture hitting the daily limit. The concept of controllable nuclear fusion surged, with stocks like Wangzi New Materials and Xue Ren Group hitting the daily limit. The concept of intelligent driving continued to strengthen, with Zhejiang Shibao hitting four consecutive limits and stocks like Luchang Technology hitting the daily limit. The commercial aerospace concept was repeatedly active, with Huati Technology hitting two consecutive limits. Here are the core index views: The Shanghai Composite Index closed at 3,899.31 points in the morning, up 0.59%. The Shenzhen Component Index closed at 13,175.13 points in the morning, up 0.93%. The ChiNext Index closed at 3,137.73 points in the morning, up 0.99%. The CSI 300 closed at 4,580.64 points in the morning, up 0.61%. The STAR 50 closed at 1,314.99 points in the morning, up 0.69%. The CSI 500 closed at 7,180.16 points in the morning, up 1.12%. The CSI 1000 closed at 7,348.77 points in the morning, up 1.05%. Hong Kong stocks collectively rose in the morning session, with the Hang Seng Index up 0.65% and the Hang Seng TECH Index up 1.14%. Weighty technology stocks boosted the market, with Meituan rising over 2%, and Tencent and Baidu rising over 1%; pharmaceutical stocks rose across the board, with institutions expecting the prosperity of innovative drugs to continue upward in 2026, leading to significant gains in innovative drug concept stocks; Chinese brokerage stocks, chip stocks, and copper stocks rose broadly. Additionally, oil stocks, film stocks, and sports goods stocks fell, with most airline stocks that had surged yesterday showing weakness. In terms of news, the U.S. CPI unexpectedly fell year-on-year, leading to a rise in U.S. stocks overnight, with popular Chinese concept stocks all rising. The Bank of Japan raised interest rates by 25 basis points to the highest level in 30 years at 0.75%, in line with market expectations. In the domestic commodity futures market, most contracts fell at midday, with soybean oil down 2.51%, platinum down 2.28%, fuel oil down 2.13%, glass down 1.88%, and polysilicon down 1.26%. The container shipping index (European line) rose 4.27%, with Shanghai nickel up 2.61% and stainless steel up 2.26%. Government bond futures showed mixed performance at midday, with the 30-year main contract down 0.26% at 112.120 yuan, the 10-year main contract down 0.01% at 108.025 yuan, the 5-year main contract up 0.03% at 105.905 yuan, and the 2-year main contract up 0.02% at 102.468 yuan 10:14 The Hang Seng TECH Index has expanded its gains to 1%. Horizon Robotics rose nearly 7%. The Shenzhen Component Index and the ChiNext Index both rose over 1%, while the Shanghai Composite Index rose 0.53%. Sectors such as controllable nuclear fusion, commercial aerospace, intelligent driving, and robotics led the gains, with over 4,600 stocks in the Shanghai, Shenzhen, and Beijing markets in the green. 9:35 The A-share commercial aerospace concept continues to be strong, with Guanglian Aviation, Ruihuatai, and Youji Co., Ltd. rising over 10%. Guoji Jinggong, Aerospace Zhizhuang, Tongyu Communication, and Western Materials rose over 7%. 9:30 The ChiNext Index rose over 1%. 9:29 Government bond futures opened, with the 30-year main contract down 0.14%, the 10-year main contract down 0.02%, the 5-year main contract down 0.01%, and the 2-year main contract up 0.01%. 9:28 The China Convertible Bond Index opened up 0.12%. Huati Convertible Bond rose 9.7%, Jiamei Convertible Bond rose 8.9%, Hongwei Convertible Bond and Yuxing Convertible Bond rose over 3%, and Jingda Convertible Bond rose nearly 3%; Suli Convertible Bond fell over 2%, and Liqun Convertible Bond and Zai22 Convertible Bond fell over 1%. 9:28 The controllable nuclear fusion concept led the opening gains, with Wangzi New Materials hitting the daily limit, Changfu Co., Ltd. rising over 10%, and Aike Saibo, Hahan Huadong, Snowman Group, and Guoji Heavy Equipment rising over 6%. 9:25 The Shanghai Composite Index opened at 3,878.23 points, up 0.05%. The Shenzhen Component Index opened at 13,116.19 points, up 0.48%. The ChiNext Index opened at 3,134.80 points, up 0.89%. The CSI 300 opened at 4,561.37 points, up 0.19%. The STAR 50 opened at 1,314.75 points, up 0.67%. The CSI 500 opened at 7,124.40 points, up 0.33%. The CSI 1000 opened at 7,295.67 points, up 0.32%. 9:20 The Hang Seng Index opened up 0.53%, at 25,634.22 points; the Hang Seng TECH Index rose 0.81%. Alibaba Health and XPeng rose over 2%, while Leapmotor, NetEase, Kuaishou, SMIC, and Hua Hong Semiconductor rose over 1% 9:15 The central parity rate of the Renminbi against the US dollar is reported at 7.0550, up 33 points; the previous trading day's central parity rate was 7.0583, and the official closing price of the previous trading day was 7.0419, while the night session closed at 7.0412. 9:00 Commodity futures opened, with the main contracts for paraxylene, palladium, stainless steel, and PTA rising over 2%, while Shanghai nickel, short fibers, European shipping, and coke rose over 1%. Polysilicon fell by 3%. FTSE China A50 Index futures rose 0.07% at the beginning of the session, with the previous trading day's night session closing up 0.09%