Hua Er Jie Jian Wen·2025-10-22 04:23Market Overview - The early trading session saw a continuation of strength in the deep earth economy concept, with companies like CITIC Heavy Industries, Petrochemical Machinery, and ShenKong Co. achieving three consecutive trading limits [1][7] - On October 22, the A-share market opened lower, with all three major indices declining, particularly the ChiNext index which fell over 1% [1][10] - The Hong Kong stock market also opened lower, with the Hang Seng Index dropping over 1% and technology stocks experiencing declines [1][12] A-share Performance - As of the report, the Shanghai Composite Index was down 0.45% at 3898.54, the Shenzhen Component Index fell 0.77% to 12976.03, and the ChiNext Index decreased by 0.82% to 3058.43 [2][11] - The decline in the A-share market was attributed to significant drops in sectors such as gold, non-ferrous metals, and semiconductors, while infrastructure and real estate stocks showed some resilience [11] Hong Kong Market Performance - The Hang Seng Index was reported at 25793.92, down 0.90%, while the Hang Seng Technology Index fell 1.50% to 5918.06 [3][13] - The technology sector in Hong Kong faced widespread pullbacks, with gold stocks experiencing significant losses, particularly Zijin Mining and Shandong Gold, which dropped over 6% [13] Bond Market - The bond market showed a collective rebound, with the 30-year main contract rising by 0.19%, the 10-year contract up by 0.08%, and the 5-year contract increasing by 0.04% [3][4] Commodity Market - Domestic commodity futures mostly rose, with notable increases in indices such as shipping, pulp, lithium carbonate, and aluminum, while gold and silver saw declines exceeding 5% [4][5] - Specific commodities like copper and polysilicon experienced price drops, while soybean meal fell over 1% [5][17] Key Stocks - Bubble Mart saw a significant rise of over 8% in early trading, with third-quarter revenue expected to increase by 245%-250% year-on-year, prompting Jefferies to raise its target price to HKD 383.2 [14]