June 29 A-share noon: four indices rose then fell; innovative drug sector surged; computing power and PCB sectors plunged

On June 29, the four major A-share indices rose then fell. By noon, Shanghai Composite was up 0.17%, Shenzhen Component down 1.21%, ChiNext down 1.28%. SciTech Composite up 0.36%. Half-day turnover on Shanghai and Shenzhen was 2.5 trillion yuan, up 76.1 billion from previous day. Nearly 3,500 stocks fell.

By sector, controllable nuclear fusion concept was active, with Baoli Electric, Lianchuang Optoelectronics, CNNC Technology, China Nuclear Construction hitting limit up. Retail concept fluctuated upward, Ningbo Zhongbai 3 days 2 boards, Zhongbai Group limit up. Semiconductor chain active intraday, Baicheng Shares 4 days 3 boards, Shikong Technology, Canny Emmett Gas limit up.

Innovative drug sector exploded, with Sansheng Guojian firmly hitting 20cm limit up at 49.75 yuan, a one-and-a-half-month high, total market cap 445.87 billion yuan. In addition, Wanbang Pharma, Guangshengtang, Shutaishan, Bairen Medical also recorded 20CM limit up, Rongchang Biologics, Shengnuo Biologics, Junshi Biologics etc. followed. In Hong Kong, Rongchang Biologics rose 15%, Konuoa-B up over 14%, Jingtai Holdings up over 13%, Kangfang Biologics, Lepu Biologics up over 12%.

On the downside, computing power hardware chain declined, PCB and CPO directions fell sharply. Dongwei Technology down over 13%, Yidong Electronics down over 11%, Wei Te Ou, De Ke Li down over 10%, Ultrasonic Electronics, Chongda Technology, Zhongjing Electronics, Aohong Electronics etc. multiple stocks hit limit down.Fiber optic concept fell intraday, Changyingtong 20cm limit down.

Among well-known stocks, electronic fabric leader Honghe Technology opened sharply down and hit limit down in just one minute. The stock has risen over 3622% from its low on April 9, 2025, to this morning. On the evening of June 26, Honghe Technology issued a stock trading fluctuation announcement. [Details]

Hong Kong stocks opened high and moved higher, At 11:45, Hang Seng Tech Index rose 4%, tech stocks continued to strengthen, Bilibili up over 8%, Baidu up over 7%, JD.com, Meituan etc. followed.

Last week, global market tech chain experienced synchronized shocks, with overseas related sector valuation declines putting transmission pressure on A-shares and Hong Kong. Citigroup strategists said that as corporate earnings remain strong and "liquidity has not tightened enough to burst the bubble," stocks may continue to rise. Citigroup maintains overweight on the US and emerging Asian markets, noting that ending a bull market usually requires interest rate increases, "Given that the Fed has yet to raise rates and its balance sheet is still expanding, we believe the bull market may still be intact."