A-share Opening Express | Three Major Indices Open Higher Collectively, Technology Hardware Active Stocks Decline More Than Rise

On September 9, the Shanghai Composite Index opened up 0.09% at 3943.92 points, the Shenzhen Component Index opened up 0.63% at 13788.94 points, and the ChiNext Index opened up 1.15% at 3398.22 points. The STAR Market 50 opened up 1.08% at 1608.20 points. As of 9:31 AM, there were a total of 1846 stocks rising and 3428 stocks falling on the Shanghai and Shenzhen markets, with 286 stocks unchanged. Top gainers included: communication equipment, minor metals, components, semiconductors, optical chip concepts, indium phosphide chip concepts, and gallium germanium concepts. Top decliners included: film and television, real estate services, gaming, CRO concepts, agricultural planting, AI corpus, and short dramas. Market Overview The three major indexes opened higher collectively, with the ChiNext Index and STAR Market 50 leading in opening gains; after the opening, the indexes quickly diverged, and the Shanghai Composite Index returned to near-flat trading. As of 9:31 AM, it was at 3941.23 points, up 0.02%; the Shenzhen Component Index was at 13763.92 points, up 0.44%; the ChiNext Index was at 3383.40 points, up 0.70%; and the STAR Market 50 was at 1606.91 points, up 1.00%. From a structural perspective, technology hardware sectors such as communication equipment, optical chips, and semiconductors were active at the open, while minor metals and components strengthened. In contrast, sectors such as film and television, agriculture, livestock and fisheries, real estate services, gaming, CRO concepts, agricultural planting, and AI corpus opened lower. In terms of trading volume, as of 9:31 AM, the transaction amount in the Shanghai and Shenzhen markets was approximately 1206.56 billion yuan, an increase of 493.43 billion yuan compared to the same time in the previous trading day; there were 12 stocks hitting the daily limit up and 2 stocks hitting the limit down, indicating a prevalence of declines among individual stocks and significant structural differentiation. Overnight News Brief U.S.-Iran conflict escalates, dragging down U.S. stocks: According to Xinhua News Agency, on September 8, the three major U.S. stock indexes collectively fell, with the Dow Jones down 1.18%, S&P 500 down 0.58%, and Nasdaq down 0.32%; the maritime standoff between the U.S. and Iran pushed oil prices higher, with WTI crude up 1.69% at $93.03 per barrel and Brent up 0.95% at $97.92, while spot gold fell 1.06%. CME interest rate futures indicate a nearly 60% probability of a 25 basis point rate hike by the Federal Reserve in September. High-level emphasis on urban renewal to boost domestic demand: According to the State Council of China, on September 8, a special study was held on the theme of "Promoting Urban Renewal with High Quality," emphasizing increasing government investment, coordinating policy funds, and reinforcing fiscal and financial collaboration to promote major project construction. On the same day, the Ministry of Industry and Information Technology held a national symposium on consumer goods industry, proposing to cultivate and develop emerging pillars in biomedicine and bio-manufacturing industries and deploying special actions for "artificial intelligence + three products." Optical Expo and copper prices catalyze technology materials: According to Caixin, the 2026 China International Optoelectronic Expo opened on September 9 in Shenzhen, attracting attention for the industrialization progress of new optical architecture such as CPO and NPO; at the same time, LME copper prices hit historical highs for two consecutive days, reaching a maximum of $14,688.50 per ton on September 8 (after first breaking through $14,533 per ton on September 7), supported by demand from AI data centers and new energy. Market Assessment Today, the three major A-share indexes opened higher collectively, with the ChiNext Index and STAR Market 50 leading the opens in gain, but after the opening, the indexes diverged, with the Shanghai Composite Index returning to near-flat trading, and a higher number of stocks declining than rising (as of 9:31 AM, 1846 stocks rose and 3428 stocks fell), highlighting a structural market. Technology hardware sectors such as communication equipment, optical chips, and semiconductors remained active, while film and television, agriculture, livestock and fisheries, real estate services, AI corpus, and CRO opened lower, with funds rapidly rotating between technology and consumer sectors during the week. Driving factors include the overnight escalation of the U.S.-Iran conflict driving up oil prices and suppressing global risk appetite, with the market focusing on the U.S. CPI data for August on this Friday (September 11) and next weeks Federal Reserve meeting; domestic urban renewal policies to boost domestic demand, as well as biomanufacturing and "artificial intelligence + three products" policy expectations providing support for related sectors. The consensus among institutions leans towards the possibility of the index continuing to fluctuate at high levels with structural rotations, while the sustainability of the technology main line and whether trading volume can return to 2 trillion yuan are key factors; in the short term, the direction may maintain a switch between high and low sectors and operate within a range.