AH stocks fell in early trading, with the commercial aerospace sector weakening, while medical, semiconductor, and shipping stocks rose against the trend

On Thursday, the Shanghai Composite Index opened lower by 0.08%, while the ChiNext Index fell by 0.07%. Xiaomi Automobile, High-Speed Copper Connection, Air Source Heat Pump, Wireless Charging, Superconductors, Memory, and Commercial Aerospace Index were among the top decliners; CRO, Advanced Packaging, Sodium-ion Battery, and Lithium Mining concept stocks were strong.

In Hong Kong, the three major indexes opened slightly higher, with the Hang Seng Index up by 0.13%. AIA Group rose by over 1%; the Hang Seng Tech Index rose by 0.16%, and the Hang Seng China Enterprises Index rose by 0.12%. Gaming stocks generally opened higher, with XD Inc. up by over 3%, Tencent and NetEase up by nearly 1%. Tencent's mobile game DNF suddenly unilaterally "removed" some app stores, and XD Inc. CEO made a statement.

In the A-share sector, the semiconductor sector continued to strengthen, with Chipone Tech up for two consecutive days, Jinghua Micro up by the daily limit of 20cm, Kaiwei Tech up by over 10%, Canray Technology, Biyi Micro, Galaxy Microelectronics, and others surged.

CRO concept stocks rebounded, with Notai Biology hitting the daily limit of 20cm at one point, and Shengnuo Biology up by over 5%.

Shipping stocks strengthened, with COSCO Shipping Holdings up by over 2%.

The commercial aerospace sector experienced a pullback.

In the Hong Kong stock sector, oil and gas stocks continued to strengthen, with PetroChina rising by over 2%.

Hong Kong shipping stocks also collectively rose, with COSCO Shipping rising by over 3%.

Government bond futures opened collectively higher, with the main contract for the 30-year period rising by 0.21%, the main contract for the 10-year period rising by 0.08%, the main contract for the 5-year period rising by 0.02%, and the main contract for the 2-year period rising by 0.01%.

Market News

"No Interest Rate Cut"! China's 1-year and 5-year LPR unchanged on June 1

On Thursday, June 20, the People's Bank of China authorized the National Interbank Funding Center to announce that on June 20, 2024, the Loan Prime Rate (LPR) was: 1-year LPR at 3.45%, unchanged from the previous value; 5-year and above LPR at 3.95%, unchanged from the previous value.

Detailed Explanation of the "Eight Measures for the Sci-Tech Innovation Board": "Hard-Tech" Companies Welcome Green Channel, IPO for Unprofitable Companies, and M&A Resurgence

The "Eight Measures" have introduced a series of specific favorable measures for mergers and acquisitions. In addition to supporting Sci-Tech Innovation Board listed companies in acquiring high-quality unprofitable "hard-tech" companies, the China Securities Regulatory Commission has also clarified: enriching payment tools, encouraging the comprehensive use of shares, cash, targeted convertible bonds, and other methods for mergers and acquisitions, and conducting research on phased payment of share consideration.

State Council Issues "Seventeen Measures" to Support Venture Capital: Ten Highlights in Optimizing the Entire Chain of "Fundraising, Investment, Management, and Withdrawal"

On the evening of June 19, the General Office of the State Council issued a notice on the "Several Policy Measures to Promote the High-Quality Development of Venture Capital" (referred to as the "Measures"), which introduced seventeen measures in six aspects, including nurturing diversified venture capital entities, expanding the sources of venture capital funds through multiple channels, strengthening government guidance and differentiated supervision of venture capital, improving the venture capital exit mechanism, and optimizing the venture capital market environment