The three major A-share indices closed higher, with nearly 4,000 stocks in the green. Chemical stocks led a surge in limit-up hits.

China’s A-share three major indices all closed slightly higher today. The Shanghai Composite Index rose 0.26% to close at 3890.16 points; the Shenzhen Component Index rose 0.36% to close at 13400.41 points; and the ChiNext Index rose 0.36% to close at 3160.82 points. The combined trading value across the Shanghai, Shenzhen, and Beijing markets was 1.62 trillion yuan, down 45.3 billion yuan from the previous trading day.

Most industry and sector sectors closed higher, with gains leading in rare earth, chemical raw materials, agrochemical products, petroleum and petrochemicals, coal, minor metals, and agriculture and forestry and animal husbandry sectors, while the insurance and banking sectors led the declines.

In individual stocks, the number of stocks that rose was close to 4,000, and more than 100 stocks hit the daily limit up. Rare-earth stocks surged, with China Northern Rare-Earth Resources hitting the daily limit up. The chemical sector saw a wave of daily limit-ups; more than 30 chemical stocks, including Chitianhua, Lutianhua, Liuzhu Chemical, Ciyahuap, and Jinniu Chemical, all hit the daily limit up.

Top News of the Day

Trump Escalates Threats Again: 8 p.m. on the 7th Is the “Final Deadline”

On April 6, local time, at a news briefing held at the White House, U.S. President Trump said whether the conflict with Iran is about to escalate or be near to ending depends on Iran’s response to the “final deadline” set by him—8 p.m. Eastern Time on the 7th. At the briefing, Trump said the U.S. is holding talks with Iran, with Vice President Vance and presidential envoy Witkoff participating.

Stabilize Market Expectations: New Rules for Short-Term Trading Take Effect Today

To further standardize short-term trading behavior in the securities market, clarify criteria for determining violations, and draw clear regulatory boundaries, the China Securities Regulatory Commission previously issued “Several Provisions on the Regulation of Short-Term Trading” (hereinafter “the Provisions”), effective as of April 7, 2026. Industry institutions said the implementation of the Provisions will help stabilize market expectations and provide convenience for various professional institutional investors to participate in the market.

Limit-Up in 1 Minute! The Entire Chemical Track Completely Goes Wild! Saudi Arabia Suddenly Sends Big News

Today it’s the turn of the chemical sector! According to a report by Xinhua News Agency, early on the 7th, Iran’s Fars News Agency cited unnamed sources as saying that an explosion occurred that day in the Jubaile industrial zone in northeastern Saudi Arabia, involving U.S. capital, following a large-scale attack. On April 6, the Israel Defense Forces issued a statement saying it carried out an airstrike that day on a large petrochemical integrated facility in Iran’s southern Asalouyeh region; the facility is Iran’s largest petrochemical complex.

The Most Expensive Ever! iPhone Fold Is Coming: Foxconn Is Already in Trial Production—These 7 Stocks Have Upside Potential of Over 30%

According to a report from China Securities Journal on April 6, the reporter learned the same day from people in the industry chain that Foxconn is already conducting trial production of Apple’s foldable-screen iPhone. The shipment target guidance provided by Apple to suppliers is for the first foldable-screen phone to be released in the second half of 2026. Based on supply-chain information, the starting price for the iPhone Fold mainland China version is expected to be 14k–15k yuan, while the top configuration version may exceed 20k yuan.

Securities Times: “Learning Through Trial and Error” in Commercial Space Is Essential—Growth Potential Deserves Protection

2026 is the first-flight year for reusable rockets. From April to December, a number of companies including Blue Arrow Aerospace, Galaxy Space Dynamics, and Xingji Honor will carry out a dense schedule of first flights and recovery verification. Domestically, private commercial space in China has clearly laid out plans to conduct 22–27 launches. In this process, the necessary “learning through trial and error” should be met with greater tolerance, and the industry’s growth potential is worth protecting.

Institutional Views

Haitong Securities: In the short term, maintain a defensive stance with low-correlation allocations; in the medium term, position around the power chain and sector fundamentals/bullishness

In its research report, Haitong Securities said that last week the situation in the Middle East kept fluctuating, extending the market’s choppy trading, and combined with risk-avoidance flows before the Qingming holiday, the tracked A-share sentiment index was still in a “panic” range. Structurally, sectors benefiting from geopolitics and high oil prices—power, new energy, and coal—saw capital realize gains due to relatively high crowding, while low-correlation areas such as communications and innovative drugs performed well. The earnings season’s results exceeding expectations also became a new trading clue. The odds for the left-side positioning may gradually rise, but before the geopolitical situation becomes clear, one should not place unilateral bets; it is suggested to continue waiting for right-side signals. In addition, even after considering the upside of surprise non-farm payroll data, investors still need to be wary of the risk chain: oil prices rising → inflation moving upward → liquidity tightening. In allocation, it recommends controlling position sizes and leaving room, keeping some defensive and low-correlation asset allocations in the short term, such as dividend-focused strategies, AI computing power, and innovative drugs. In the medium term, it suggests building on dips around the two main lines: the power chain and the sector’s improving outlook.

CITIC Securities: Continue to Emphasize That the 2026 Oil-Shipping Leaders’ Profits Could Reach New Highs

In its research report, CITIC Securities said that the outbreak of the conflict between the U.S. and Iran has greatly increased the “energy security” needs of major consuming countries. The asset attributes of oil-tanker fleets are gradually shifting from “low-return strong cycle” to “just-need strategic assets.” The capacity of the Strait of Hormuz to allow passage remains a key variable. In the short term, adjustments to the supply-chain approach lengthen haul distances; the release of oil from the U.S. strategic reserves supports an upward move in TD22 (U.S. Gulf–China) freight rates. Once partial restoration of passage capacity occurs, replenishment demand could also become a catalyst for the cycle’s rise. In recent times, freight-rate increases such as for Aframax are mainly due to a large increase in regional trade arbitrage demand. The supply-chain link facing the largest shock is the bottleneck segment, and the bottleneck at the time is mainly shipping vessels. With the emergence of a new supply-chain short-term equilibrium under constrained passage through the strait, freight rates may fall in the U.S. Gulf and the Red Sea to Far East route in April in the 150,000–200k yuan per route range. It continues to emphasize that the oil-shipping leaders’ profits in 2026 could reach new highs.

China International Capital Corporation (CICC): Suggest Focus on the Main Lines With Higher Levels of Fundamentals/Outlook and Strong Earnings Certainty

In its research report, CICC said that for A-share allocation, earnings certainty could be an important clue in the current environment of uncertainty. In the short term, although the market remains uncertain, after repeated swings, market sensitivity may decrease. And after a period of adjustment, the market may be at a relative low point for A-shares’ medium-term horizon. In the medium term, the macro environment the market is in has not undergone fundamental changes, so the logic supporting the “steady advance” of the A-share market still holds. Risks being released and the subsequent pullback and adjustment are expected to bring better allocation opportunities. In an environment of uncertainty, earnings certainty could become a key clue guiding where capital flows in the market. It is suggested to focus on the main lines with higher levels of sector fundamentals/outlook and stronger earnings certainty.

1、Growth with improving fundamentals: industries benefiting from AI technology implementation, such as optical communications; and sectors related to new energy such as batteries, energy storage, etc.

2、Cyclic resource stocks: considering the position in the production-cycle, focus on sub-sectors supported by supply-demand structures that support price increases and earnings certainty, such as power grid and chemical industries.

3、High dividend yields: in phases with lower risk appetite, there may be relatively better performance, but over the full year it may still be mainly phased and structural performance. Focus on alignment with cash-flow.

Galaxy Securities: Changes in the Crude Oil Price Trend Will Still Be a Key Variable Affecting the Structure of the Near-Term Market

Galaxy Securities’ investment outlook for China’s A-share market stated that from the external environment, the military conflict involving the U.S. and Iran is continuing to escalate, the outlook for ceasefire talks remains unclear, and Trump set an April 6 final deadline; and the intensity and scope of Iran’s retaliation have expanded. With uncertainty from the conflict still high and the price trend not yet clear, the global equity markets are expected to remain in a high-volatility environment, and A-shares may show a pattern of range-bound trading with rotational flows. Changes in the crude oil price trend will still be a key variable affecting the structure of the near-term market. A rise in oil prices will push up global inflation expectations; delays in interest-rate cut expectations will tighten global liquidity at the margin, which will strengthen the trading logic for energy substitution sectors and the “defensive shield” role of defensive sectors. At the same time, it will partly suppress the performance of aggressive sectors such as technology growth. Conversely, if later expectations for the conflict easing lead oil prices to fluctuate downward and loosened expectations rebound, that would be favorable for repairing the growth-stock rally.

From the internal environment, the core logic of policy support, capital entering the market, and China-asset revaluation remains unchanged, and external conflict has not shaken the long-term “slow bull” foundation of A-shares. Meanwhile, with A-share company earnings entering a concentrated disclosure period in April, trading clues are gradually shifting toward validation of fundamentals. Sectors with high earnings certainty and continuously improving fundamentals/outlook will become the core direction that investors focus on.