A-Share Close | Shanghai Index Falls 0.26% Chip Stocks Surge Suddenly! Multiple Leading Stocks Skyrocket

Today, the market bottomed out and then rebounded. In the afternoon, there was a surge in the chip sector, leading the ChiNext and STAR Market higher, while the Shanghai Composite Index’s decline significantly narrowed. The market’s total daily turnover was 2.3 trillion yuan, with more stocks rising than falling across both markets.

In terms of sectors, the chip sector saw a notable movement in the afternoon, with stocks like Huahong Company, Baiwei Storage, and Guoke Micro rising over 10%. According to Securities Times, analysts believe that although there are continuous positive rumors involving Huahong, the upcoming GTC 2026 conference hosted by NVIDIA may also be a major catalyst for the semiconductor sector. Additionally, news that wafer foundries such as United Microelectronics, World Advanced, and Powertech are raising prices has become another driving factor.

Other hot topics include the deep-sea technology concept, with Dongfang Marine, Shen Kai Shares, and Marine King hitting the daily limit; the PCB concept also performed actively, with Jinan Guoji, Chaoying Electronics, and Zhuolang Intelligent hitting the limit; the shipping sector rose in the afternoon, with China Merchants South Oil and Hainan Hitech hitting the daily limit.

On the downside, energy storage and green electricity concepts continued to decline, with China Nuclear Construction and China Power Construction hitting the daily limit; the coal sector also fell sharply, with Zhengzhou Coal & Electricity plunging.

In individual stocks, 2,843 stocks rose, 2,494 fell, and 152 remained unchanged. A total of 63 stocks hit the daily limit, while 13 stocks hit the daily limit down.

At the close, the Shanghai Composite Index fell 0.26% to 4,084.79 points, with a turnover of 1.0372 trillion yuan; the Shenzhen Component Index rose 0.19% to 14,307.58 points, with a turnover of 1.2881 trillion yuan. The ChiNext Index increased by 1.41% to 3,357.02 points.

Funds Movement

Today, main funds focused on buying in the sectors of Baijiu, diversified finance, and passenger vehicles. Leading stocks by net inflow include China Oil Capital, Kweichow Moutai, and Shun Na Shares.

News Highlights

1. Three departments: By 2030, the national fuel cell vehicle ownership will double compared to 2025

The Ministry of Industry and Information Technology, the Ministry of Finance, and the National Development and Reform Commission issued a notice on pilot projects for hydrogen energy applications. It states that by 2030, hydrogen energy in urban clusters will achieve large-scale application across multiple fields, with the terminal hydrogen price dropping below 25 yuan per kilogram, aiming for around 15 yuan in some advantageous regions; the national fuel cell vehicle ownership will double from 2025, reaching 100,000 units. Expanding application scale will promote breakthroughs in hydrogen energy technology, processes, and equipment, leading to iterative upgrades of fuel cells, electrolyzers, storage and transportation devices, and materials, making hydrogen energy a new economic growth point and supporting comprehensive green transformation of economic and social development.

2. The National Satellite Internet System and Service Standardization Technical Committee approved for establishment

Today (16th), it was announced that the State Administration for Market Regulation officially approved the establishment of the National Satellite Internet System and Service Standardization Technical Committee. In recent years, with the accelerated development of low-earth orbit satellite constellations, satellite internet applications in direct mobile connections, emergency communications, marine fisheries, transportation logistics, and remote area communications have expanded continuously. China’s satellite internet industry ecosystem is becoming increasingly active, and industry capabilities are strengthening.

3. Zhituo releases the world’s first lobster large model GLM-5-Turbo, with a 20% API price increase

Today, Zhituo officially launched the world’s first general large model optimized for lobster scenarios, GLM-5-Turbo, and simultaneously increased its API price by 20%. According to evaluations based on the end-to-end lobster benchmark ZClawBench, GLM-5-Turbo significantly outperforms GLM-5 in the OpenClaw scenario and leads in several key tasks compared to mainstream models. Additionally, Zhituo has introduced lobster packages for individual and enterprise users.

Market Outlook

1. CITIC Construction Investment: The impact of Middle East tensions is profound, and China faces strategic opportunities

The US-Iran conflict has entered a standoff phase, causing sharp fluctuations in crude oil prices. China’s diversified crude oil imports, energy structure transformation, and strategic petroleum reserves will provide some buffer. However, under global risk appetite disturbances and domestic market liquidity constraints, A-shares may remain volatile in the short term. If the US-Iran conflict becomes prolonged, three main impacts could occur: 1) upward pressure on oil prices, rising global inflation, and disruption of Federal Reserve rate cuts; 2) acceleration of the weakening of the petrodollar system, with China potentially becoming a global safe haven for capital, benefiting RMB assets; 3) creating strategic opportunities for China, leveraging a dual energy base of “coal + new energy” to ensure energy security and possibly lead global energy transition. Key sectors include coal, coal chemicals, power equipment, utilities, petrochemicals, and AI industry chain. Themes include lithium batteries, nuclear power, energy storage, and wind power.

2. Zhongtai Securities: Energy security assets may benefit in the short term

The US-Iran conflict has exceeded market expectations in duration. In the A-share market, risk aversion remains dominant this week. With ongoing geopolitical tensions and rising crude oil futures prices, the main trading themes are still energy and defensive sectors. Coal, utilities, power equipment, and alternative energy sectors performed relatively well. Looking ahead, the conflict may become long-term, and energy security assets could continue to benefit short-term, while technology sectors should focus on avoiding negative impacts from overseas exposure. Investment suggestions: Main theme one—energy security and “conflict-benefiting” assets; main theme two—energy transition and military industry-driven technological exports; main theme three—internal technological differentiation, prioritizing domestically driven sectors.

3. Industrial Securities: A-shares are expected to become more “domestically centered”

As the conflict evolves, two major changes are occurring in market pricing: first, from “intensity escalation” to “repeated negotiations”; second, in pricing the impact of high oil prices on the economy and policies. Once these changes are confirmed, and as the market gradually becomes less reactive to negative news and domestic policy certainty increases, A-shares are expected to become more “domestically driven.”

This article is reprinted from “Tencent Stock Picks,” edited by Liu Jiayin.

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