A-share closing review: ChiNext Index rebounds from lows, up 1.41%, storage chip and PCB concept stocks surge collectively

(Source: Sci-Tech Innovation 100 ETF Fund)

The three major A-share indices showed mixed performance today. By the close, the Shanghai Composite Index fell 0.26%, the Shenzhen Component Index rose 0.19%, the ChiNext Index increased 1.41%, and the Beijing Stock Exchange 50 Index declined 0.35%. The combined trading volume of the Shanghai, Shenzhen, and Beijing markets was 2.3399 trillion yuan, down 77.4 billion yuan from the previous day. Over 2,800 stocks across the three markets gained.

In terms of sectors and themes, storage chips, port shipping, grain concepts, white wine, PET copper foil, PCB concepts, short drama games, and cross-border payments led the gains; steel, precious metals, glyphosate, coal mining and processing, electricity, energy metals, minor metals, epoxy propane, and phosphorus chemicals declined the most.

Market highlights include the continued “super cycle” for storage, with storage chip stocks surging in the afternoon. Baiwei Storage and Huahong Company rose over 10%, and stocks like GigaDevice (603986) hit the daily limit. Tensions in the Middle East caused a sharp increase in container shipping rerouting, and rising fuel prices pushed up freight rates. The port shipping sector also rallied in the afternoon, with China Merchants South Oil (601975) hitting the daily limit, and COSCO Shipping Energy (600026) and China Merchants Steamship (601872) among the top gainers. Nvidia’s GTC 2026 conference theme boosted PCB and copper foil stocks, with stocks like Shulian Electronics (002463) and Shenghong Technology (300476) rising. Additionally, white wine, grain, and cross-border payment sectors saw some activity. Conversely, many chemical stocks, including Wanhua Chemical (600309), China National Chemical Corporation (601117), and Hongbaoli (002165), experienced profit-taking and declines. Gold and non-ferrous resource cycle stocks such as Shanjin International (000975), Western Gold (601069), and Yunnan Copper (000878) also fell.

Top Gainers List:

【3-Day Limit】 Sanfangxiang (600370).

【2-Day Limit】 Chitianhua (600227), Jingtou Development (600683), Xihua Technology (603248), Yaxiang Integration (603929).

Main Capital Inflow Sectors:

1. 【Chip Concept】 Net capital inflow of 11.007 billion yuan, with 11 stocks hitting the daily limit and 501 stocks rising.

2. 【Benefiting from RMB Depreciation】 Net inflow of 8.396 billion yuan, with 11 stocks hitting the limit and 296 stocks rising.

3. 【Storage Chips】 Net inflow of 8.285 billion yuan, with 7 stocks hitting the limit and 133 stocks rising.

Hotspot Overview:

What’s hot in today’s market:

【Storage Chips】

Related stocks: Baiwei Storage, Huahong Company, GigaDevice

The semiconductor industry chain is experiencing a new round of price hikes. Mature process wafer foundries like United Microelectronics, World Advanced, and Powerchip are expected to raise prices starting as early as April, with increases of up to 10% or more. IC design companies, driven by rising costs, are also planning to raise prices. The world’s top three chip design giants—Texas Instruments, NXP, and Infineon—announced price adjustments, with some products increasing by up to 85% from April 1. According to TrendForce, the spot prices of mobile storage chips have surged over 300% in the past three months. The explosive demand for AI computing power (core stocks) has caused a structural supply-demand imbalance, forcing the entire industry into a price hike cycle.

【Port Shipping】

Related stocks: China Merchants South Oil, COSCO Shipping Energy, China Merchants Steamship

Data from supply chain visualization company project44 shows that since late February, when hostilities between the US, Israel, and Iran led to the actual closure of the Strait of Hormuz, rerouted container shipping volume has surged over 360%. Industry insiders say that under the impact of conflict, some cargo originally passing through the Red Sea to Egypt is shifting to Mediterranean routes via Egypt. Last week, spot freight rates on the Mediterranean route increased by about $300 per FEU to approximately $3,300.

【White Wine】

Related stocks: Huangtai Winery (000995), Kweichow Moutai (600519), Shede Wines (600702)

CITIC Securities (601066) research reports indicate that the valuation of the white wine sector has fallen to its lowest point in nearly 10 years. The China Securities White Wine Index PE-TTM is only about 17 times, at a 10-year low. Coupled with stable sales during the Spring Festival, gradually improving channel inventories, and high dividend support, the sector offers ample safety margins. The medium- to long-term allocation value is prominent, with significant room for valuation recovery, making it a key focus for investment and layout.