AH shares all decline: ChiNext falls 1%, oil and gas stocks rise against the trend, Hengke Index drops over 1%, AI large model stocks plummet, and Zhipu drops 15%

As with Asia-Pacific stock markets, mainland China’s A-share market and Hong Kong stocks are under collective pressure in early trading today. Earlier, Trump said that over the next two to three weeks, the U.S. would carry out extremely severe strikes against Iran. The entire market originally expected Trump’s nationwide address to ease the situation; however, he said that the war would continue until late April, threatening to strike Iran’s power generation plants. International oil prices surged sharply, driving a rebound in oil and gas shares.

On April 2, China’s A-share market fluctuated and fell. At the start of trading, all three major stock indexes moved lower as a group. The ChiNext Board fell as much as 1% at one point. Resource stocks such as oil and gas and coal strengthened against the trend. Shipping stocks rose, while AI computing power concept stocks, fiberglass, and precious metals all saw pullbacks.

In the bond market, China government bond futures fell across the board. In commodities, most domestic commodity futures declined. Metal futures such as Shanghai silver, palladium, and platinum led the declines. Core market performance:

A-shares: As of the time of writing, the Shanghai Composite Index was down 0.05%, the Shenzhen Component Index was down 0.40%, and the ChiNext Index was down 0.96%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index was down 0.85%, and the Hang Seng Tech Index was down 1.49%.

Bond market: Government bond futures fell across the board. As of the time of writing, the 30-year benchmark contract was down 0.04%, the 10-year benchmark contract was down 0.04%, the 5-year benchmark contract was down 0.03%, and the 2-year benchmark contract was down 0.02%.

Commodities: Most domestic commodity futures declined. As of the time of writing, manganese silicon rose 2%, while fuel oil, Shanghai gold, rubber, Shanghai aluminum, polysilicon, and eggs rose. However, asphalt, Shanghai copper, coking coal, stainless steel, coking coal, Shanghai nickel, the SCFI (China Containerized Freight Index), hot-rolled coil, soymeal, industrial silicon, rebar, crude oil, and other items fell. Lithium carbonate, glass, alumina, iron ore, and caustic soda fell by more than 1%. Palladium, platinum, Shanghai aluminum, and Shanghai silver led the declines.

09:55

Hong Kong large-model concept stocks fell; Zhipu fell by more than 16%, and MINIMAX fell by nearly 10%.

09:45

The Hang Seng Tech Index’s intraday decline widened to 1%.

09:40

The shipping sector became active again. The oil shipping direction led the gain. China Merchants Energy Shipping reached the daily limit and hit a record high. COSCO SHIPPING Energy Transportation, China National Aviation Fuel—No, wait, correction: COSCO SHIPPING Energy Transportation, CNAC (China National Aviation Fuel), China Merchants Nanyou, An Tong Holdings, and Shenghang Shares followed higher.

09:36

A-share oil and gas stocks surged against the trend. Heshun Petroleum reached the daily limit. Becken Energy rose more than 8%, while Keli Co., Jerry Petrochemical, Shandong Moleon, and Tongyuan Petroleum followed higher.

After Trump’s remarks, WTI crude oil and Brent crude oil futures’ main contracts both rose by more than 4% during the trading session, according to the news.

According to Xinhua News Agency, in his speech Trump claimed on his own that the U.S. had achieved “rapid, decisive, and overwhelming victory” in the war against Iran. The core strategic objective of the U.S. in the war against Iran—“nearly completed.”

Trump also said that over the next two to three weeks, the U.S. would carry out extremely severe strikes against Iran. If no agreement is reached, it will strike Iran’s power generation plants. “We have not attacked their oil yet, even though that is the easiest target.”

09:31

The ChiNext Index fell by more than 1%, the Shanghai Composite Index was down 0.38%, and the Shenzhen Component Index was down 0.72%. Precious metals, computing power leasing, film and television, and photovoltaic equipment led the declines. More than 3,700 stocks in the A-share, Shenzhen, and Beijing markets fell.

09:26

The Shanghai Composite Index opened down 0.2%, and the ChiNext Index opened down 0.55%. Lithium battery, photovoltaics, aluminum, advanced packaging, semiconductor equipment, energy metals, and gold concept stocks posted declines near the top. Oil and gas and memory sectors strengthened.

09:21

The Hang Seng Index opened down 0.16%, and the Hang Seng Tech Index was down 0.49%. Bilibili, Alibaba, Kingsoft Software, and Xiaomi Group led the declines, while Wuxi Biologics, Luoyang Molybdenum, and Hansoh Pharmaceutical led the gains.

09:01

Most domestic commodity futures opened lower. The Europe containerized freight line fell by more than 6%, LU fuel oil fell by more than 5%, fuel oil and BR rubber and styrene fell by more than 4%, and liquefied gas and asphalt fell by more than 3%. Shanghai gold rose by more than 2%, while Shanghai zinc and Shanghai silver rose by more than 1%.

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