A-shares Market Close: Shanghai Composite Index opened lower and then rose to gain 0.39%, with rare metal stocks such as magnesium and tungsten surging across the board.

China’s A-share three major indexes moved in different directions today. By the close, the Shanghai Composite rose 0.39%, the Shenzhen Component fell 0.06%, the ChiNext fell 1.04%, the North Star 50 Index fell 0.5%, and the total trading value across the Shanghai and Shenzhen and Beijing markets was 2505.5 billion yuan, down 51.2 billion yuan from the previous day. More than 3200 stocks across the three markets ended higher.

In terms of sectors and themes, rare earth, non-ferrous metals, minor metals, power, coal, steel, gas, compute renting, photovoltaic equipment, lab-grown diamonds, education, and diversified finance were among the top gainers. Paper, PCB, CPO, memory chips, construction machinery, and airport shipping were among the top decliners. On the trading screen, driven by supply-and-demand relationships, the prices of rare earths and minor metals have continued to rise in recent days. The related sectors jumped again today, with several stocks—including Zhangyuan Tungsten, Yunnan Germanium, Xianglu Tungye, and Northern Rare Earth—hitting historical highs. Power stocks kept strengthening in the afternoon; Javei New Energy notched a 20cm limit-up, while nearly 10 other stocks such as Fuling Electric Power and Mindong Electric Power also sealed limit-up orders.

The usage volume of China’s AI model Tokens historically surpassed that of North American models, and the compute renting sector also performed positively, with stocks such as Yuntian Lingfei and Topway Information hitting limit-up. In addition, steel, coal, and lab-grown diamonds all saw intraday pull-ups. On the other hand, after earnings were released, Nvidia’s share price fell, triggering pullbacks in compute hardware stocks such as PCB and CPO; several stocks, including XinYisheng, Zhongji Axuchuang, and Yuanjie Technology, fell more than 5% at one point during the day.