South Korea's market reopened after a holiday and caught up with losses, Samsung and SK Hynix's largest-ever buyback program (approximately US$40 billion) was terminated early, and ChangXin Technology announced a breakthrough in 4F² architecture that may put it two years ahead of South Korean giants in cell architecture. These three shocks combined sent US memory chip stocks plunging overnight, and on Tuesday Asia-Pacific markets followed suit, with South Korea's KOSPI index falling 5% and chip giants Samsung Electronics and SK Hynix also dropping sharply. Chip and computing power hardware stocks in both A-shares and Hong Kong stocks fell into a collective correction.
On October 13, A-shares opened lower across the board in morning trading, with the three major stock indexes declining at the open. The ChiNext Index fell 3%, losing the 2,900-point mark. As AI hardware, chips and semiconductors broadly declined, the STAR Composite Index and STAR 50 also dropped sharply, with SMIC (ASX: 688981), Hygon Information and AMEC all falling around 4%. Baijiu, coal and shipping sectors bucked the trend and moved higher.
Hong Kong stocks opened low and drifted lower, with the Hang Seng Index and Hang Seng Tech Index declining across the board. The Hang Seng Tech Index fell more than 2%, with weighted tech giants and chip stocks selling off sharply. GigaDevice and Cambridge Technology both dropped. AI large-model stocks also came under pressure. In the bond market, treasury futures mostly rebounded. In commodities, most domestic commodity futures declined. Core market movements:
A-shares: As of press time, the Shanghai Composite fell 1.36%, the Shenzhen Component dropped 2.49%, and the ChiNext Index declined 3.21%. The STAR Composite Index fell more than 3%, completely erasing its year-to-date gains.
Hong Kong stocks: As of press time, the Hang Seng Index fell 0.78% and the Hang Seng Tech Index dropped 2.24%.
Bond market: Treasury futures fell across the board. As of press time, the 30-year main contract rose 0.08%, the 10-year main contract rose 0.04%, the 5-year main contract rose 0.01%, and the 2-year main contract was flat.
Commodities: Most domestic commodity futures declined. As of press time, fuel oil rose nearly 4%, crude oil gained 2%, the container shipping index rose more than 1%, while a small number of products including rapeseed, coking coal, manganese silicon and coke moved higher.
09:49
Zhongji Innolight's H-shares hit a new low since their Hong Kong listing, accumulating a decline of nearly 20% in October. The Hong Kong CPO index continued its deep correction, with Cambridge Technology falling nearly 8% again.
09:41
Bargain-hunting funds gradually entered the market, with baijiu, coal, agriculture, real estate, oil and gas, and shipping sectors outperforming. Guanghui Energy, COSCO Shipping Energy and China Merchants Energy Shipping all rose around 4%.
09:35
The coal sector fluctuated higher, with Antai Group approaching the daily limit. Shaanxi Heimao, Guanghui Energy, Xinji Energy and Jinkong Coal Industry followed the gains.
The baijiu sector bucked the trend in morning trading, with Huangtai Liquor hitting the daily limit. Jinshengzi Liquor, Jiugui Liquor, Swellfun and Shede Spirits followed higher.
09:26
The Shanghai Composite Index opened 0.96% lower, and the ChiNext Index fell 2.18%. Copper-clad laminate, storage, optical communications, fiberglass and glass substrate indexes led the declines, while shipping, banking, oil and gas, and agricultural stocks were active.
09:21
The Hang Seng Index opened 0.41% lower, and the Hang Seng Tech Index fell 0.96%. Cambridge Technology, Sanhuan Group, YOFC, GigaDevice, Zhongji Innolight and Victory Giant Technology led the declines.