On October 9, A-shares opened lower in the morning session, with all three major stock indexes declining collectively in early trading. The Shenzhen Component Index and ChiNext Index both fell more than 1%, with ChiNext breaking below the 3,000-point mark to reach a new low since November 2025. Precious metals, oil and gas, and battery supply chain sectors were active, while technology stocks including AI hardware and semiconductor chips declined collectively. Concept stocks such as copper-clad laminates and circuit boards entered a correction phase, and the biopharmaceutical sector dropped sharply, with CRO and innovative drug stocks coming under broad pressure.
Hong Kong stocks opened higher and moved upward, with both the Hang Seng Index and Hang Seng Tech Index rising more than 1% in early trading. Weighted internet stocks rebounded collectively, with Meituan, Alibaba, and Tencent all gaining. Chip stocks came under pressure, with Hua Hong Semiconductor, GigaDevice, and Montage Technology declining. In the bond market, treasury bond futures rose across the board. In commodities, domestic commodity futures showed mixed performance. Core market movements:
A-shares: As of press time, the Shanghai Composite Index fell 0.37%, the Shenzhen Component Index dropped 0.97%, and the ChiNext Index declined 1.19%.
Hong Kong stocks: As of press time, the Hang Seng Index rose 0.75%, and the Hang Seng Tech Index gained 0.63%.
Bond market: Treasury bond futures rebounded across the board. As of press time, the 30-year main contract rose 0.06%, the 10-year main contract gained 0.04%, the 5-year main contract added 0.02%, and the 2-year main contract edged up 0.01%.
Commodities: Domestic commodity futures showed mixed performance. As of press time, fuel oil, industrial silicon, and palladium rose 1%, while Shanghai gold, coking coal, platinum, coke, eggs, rubber, Shanghai silver, rapeseed, stainless steel, and manganese silicon posted slight gains. Shanghai nickel, rebar, hot-rolled coils, glass, crude oil, container shipping index, polysilicon, alumina, caustic soda, Shanghai aluminum, wood pulp, Shanghai copper, and iron ore declined, with lithium carbonate and asphalt falling more than 2% and Shanghai tin plunging 4%.
09:51
Core AI hardware targets including ChangXin Memory Technologies, Zhongji Innolight, Eoptolink, Naura Technology, Dongshan Precision, Shennan Circuits, GigaDevice, and YOFC declined collectively, with the ChiNext and STAR Market boards continuing to face pressure.
Overnight, the Philadelphia Semiconductor Index closed down more than 3%, with Intel, SanDisk, Micron Technology, SK Hynix, and Nvidia all weakening.
09:49
The Hang Seng Tech Index rose more than 2% intraday, with Xiaomi gaining over 5%.
09:42
The Hang Seng Tech Index extended its intraday gain to 1.2%, with Xiaomi rising nearly 4% and BYD shares gaining more than 3%.
09:41
In early trading, the organosilicon concept surged against the trend, with Chenguang New Materials hitting the daily limit, Dongyue Silicon Material rising nearly 15%, and Silicon Bao Technology, Hoshine Silicon Industry, Hongbai New Materials, and Xinyaqiang following the upward momentum. On the news front, Dongyue Silicon Material announced that it expects net profit for the first three quarters to increase by 19,050% to 19,750% year-on-year.
09:38
The biopharmaceutical sector declined, with CRO and innovative drug directions falling together. Pharmaron, Nearshore Protein, Innostellar Biotherapeutics, WuXi AppTec, and Haoyuan Pharma all dropped.
09:36
Jin'an Guoji plunged to the daily limit in a flash, with the copper-clad laminate index falling more than 5% at one point. Shengyi Technology, Victory Giant Technology, Tongguan Copper Foil, and Nanya New Material weakened collectively.
PCB concept stocks came under pressure, with Huazheng New Material, Xianfeng Holding, and Shengyi Technology among the biggest decliners.
09:33
The ChiNext Index broke below 3,000 points, hitting a new low since November 2015, down 1.2% intraday.
09:32
Both the ChiNext Index and the STAR 50 Index fell more than 1%.
09:28
JAC Motors continued to hit the daily limit at the open. Zunjie announced a brake pedal bracket fracture and stated it would further optimize the design.
On the news front, on October 8, automotive information platform Dongchedi released a braking test video of the Zunjie V800. The video showed that during the "100km/h-0 basic braking performance test," all three Zunjie V800 vehicles experienced brake pedal bracket fractures, causing the vehicles to lose braking capability and rely only on P-gear emergency braking. That day, news about the "Zunjie V800 brake pedal bracket fracture" trended on social media, drawing widespread attention.
On the evening of October 8, Zunjie Motors' official Weibo account released a "Statement Regarding Issues Related to the Zunjie Vehicle Brake Pedal Bracket Base." The statement said that Zunjie's braking system was developed and verified through a full process in accordance with requirements exceeding national standards (GB 21670-2025 / GB 7258-2026) and industry standards (QC/T788-2018). Since the first batch of vehicles was delivered, no brake pedal bracket base fracture failures have occurred in actual user scenarios. Zunjie Motors stated that user safety is always the top priority. Even under non-standard extreme test conditions, the company still hopes to provide users with higher safety redundancy: it will further optimize the design of this component and offer free upgrade options for already delivered users.
09:25
The Shanghai Composite Index opened 0.21% lower, and the ChiNext Index fell 0.5%. Optical chips, copper-clad laminates, and fiberglass sectors underwent correction. Shipping, oil and gas, and gold sectors strengthened.
09:21
The Hang Seng Index opened 0.65% higher, and the Hang Seng Tech Index rose 0.29%. ICBC, Zijin Mining, Innovent Biologics, and BYD shares strengthened. GigaDevice, Cambridge Technology, Longsys, Victory Giant Technology, YOFC, and Zhongji Innolight underwent correction.