On Friday, China’s A-share indices opened mixed: the Shanghai Composite fell 0.07%, the Shenzhen Component rose 0.1%, and the ChiNext Index gained 0.55%.
Leading sectors included auto dismantling, fiberglass, and HBM, while antimony, forestry, and iron ore sectors lagged. Copper-related stocks surged briefly, with Beijete up over 10%, followed by Xinjilu, Naipu Mining, Zinc Co., Luoyang Molybdenum, and Luoping Zinc. The semiconductor sector declined, with Sai Micro down over 9%, alongside Zhongke Lansun, Dongwei Semiconductor, Dongxin, and Tianyue Advanced.
Moore Threads, China’s first domestic GPU stock, soared 468.78% on its debut at 650 CNY per share, with a total market cap of 305.5 billion CNY. Each winning subscription lot of 500 shares could earn around 267,900 CNY at the opening price. Moore Threads focuses on GPU R&D, design, and sales, raising about 8 billion CNY for AI training/inference chips, next-gen graphics chips, AISoC chip projects, and working capital.
Zhongyuan Securities notes that the fundamentals supporting A-share growth remain intact. Investors anticipate the upcoming key meeting, which may act as a catalyst for the next market rally. The Shanghai Composite is likely consolidating around 4000 points, with sector rotation between cyclical and tech stocks expected. Short-term opportunities include robotics, aerospace, semiconductors, and auto components.
