A-shares fluctuated and consolidated, the nuclear power sector surged, the Hang Seng Index rose and then fell, Xiaomi rose by 3%, Kuaishou rose by 5%, and government bonds collectively declined

On Wednesday, May 28, the A-shares opened higher collectively, with the three major indices experiencing fluctuations and consolidation in the early session. The sectors of autonomous driving and nuclear power were active, while aviation and communication equipment rose. The Hong Kong stock market's Hang Seng Index and Hang Seng Tech Index surged before retreating, with Xiaomi up 3% and Kuaishou up 5%. In the bond market, government bond futures all fell. Core market performance:

A-shares: As of the time of writing, the Shanghai Composite Index fell 0.03%, the Shenzhen Component Index fell 0.12%, and the ChiNext Index fell 0.02%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index fell 0.23%, and the Hang Seng Tech Index fell 0.06%.

Bond market: As of the time of writing, government bond futures fell across the board, with the 30-year main contract down 0.14%, the 10-year main contract down 0.03%, the 5-year main contract down 0.02%, and the 2-year main contract unchanged.

【10:09】

A-shares in the pharmaceutical e-commerce sector fell 1% in the early session, with the leading pharmaceutical company down 4.7%, and Yixin Tang, Langma Information, and Yibai Pharmaceutical all declining.

In terms of news, following Xinjiang and Guizhou, on May 23, Guangdong, a major pharmaceutical province, also released the "Drug Listing Rules for the Guangdong Provincial Pharmaceutical Procurement Platform (Draft for Comments)," publicly soliciting opinions from society. This means that the drug listing rules will be unified nationwide.

Analysts pointed out that using the pharmacy price and online price to constrain the listed price of pharmaceutical companies is the biggest highlight of the new round of listing rules. The "low-price promotion" space for pharmacies and internet platforms will be fully compressed, and they will no longer have a price advantage compared to hospitals. This may impact pharmacies and pharmaceutical e-commerce.

【10:07】

Kuaishou opened more than 5% higher in the early session, currently up 4.6%, reported at HKD 51 per share.

In terms of news, Kuaishou Q1 total revenue increased by 10.9% year-on-year to 32.6 billion yuan, with a year-on-year growth of 10.9%. Adjusted net profit reached 4.6 billion yuan, with an adjusted net profit margin of 14%, and all three main businesses achieved growth Keling AI's operating revenue exceeded RMB 150 million.

[10:04]

The pet economy concept adjusted, with Tianyuan Pet and Meinong Bio opening lower and falling nearly 10%, while Yuanfei Pet, Daqian Ecology, Huisheng Bio, and Lusi Co., Ltd. saw significant declines.

[09:57]

Xiaomi Corporation rose in early trading, previously up over 3%, now up 2.9%.

In news, on May 27, Xiaomi Corporation announced its Q1 financial report showing that in the first quarter of 2025, Xiaomi Corporation's revenue was RMB 111.3 billion, a year-on-year increase of 47.4%, and net profit grew by 64.5%, both hitting new historical highs. Revenue from smart home appliances in the first quarter increased by 113.8% year-on-year. The electric vehicle business is driving structural upgrades, with 75,869 units of the Xiaomi SU7 series new cars delivered in the first quarter.

During the investor conference call, Xiaomi Corporation partner and president Lu Weibing said he was not worried at all about the impact of the YU7's launch on SU7 sales, or that the SU7 would need to be discounted for promotion, as the latter's production capacity is currently severely insufficient, and the delivery cycle is still very long. Once the production capacity of the YU7 and SU7 ramps up, sales can be referenced against Model 3 and Model Y.

[09:45]

Hong Kong stock nuclear power stocks strengthened, with China National Nuclear Corporation International rising nearly 8%, and China General Nuclear Power Corporation Mining rising 7.43%.

Nuclear power and controllable nuclear fusion concepts surged, with Rongfa Nuclear Power achieving four consecutive boards, and Xue Ren Co., Ltd., Great Wall Electric, hitting the daily limit, while Huijin Tong, Libote, Lanshi Heavy Industry, and Shangwei Co., Ltd. saw significant gains.

In news, a report released by the FIA (Fusion Industry Association) previously showed that among 37 surveyed commercial nuclear fusion companies, 26 believe that the first nuclear fusion unit will achieve grid connection before 2035.

[09:39]

Beverage manufacturing concept stocks remained strong, with Kuaijishan achieving 4 boards in 6 days, Junyao Health hitting the daily limit, New Dairy rising over 8%, and Huanlejia, Zhangyu A, Jinfeng Wine Industry, Sunshine Dairy, and Dongpeng Beverage also rising.

[09:32]

The autonomous driving concept continued to be active, with Tongda Electric and Yunnei Power achieving three consecutive boards, and Xingwang Yuda, Jinjiang Online, Jinlong Automobile, and Jiangling Automobile all opening higher.

[09:30]

Government bond futures opened, with the 30-year main contract down 0.13%, the 10-year main contract down 0.03%, the 5-year main contract unchanged from yesterday, and the 2-year main contract up 0.01%.

[09:21]

The Hang Seng Index opened up 0.01%, at 23,385.18 points; the Hang Seng Tech Index rose 0.52%. Kuaishou rose 6.5% after its earnings report, while Bilibili and Xiaomi rose over 2%; Li Auto fell 1.6%, and Meituan fell 0.9%.

[09:00]

Commodity futures opened, with the main rubber contract down over 2%, No. 20 rubber, caustic soda, and industrial silicon down over 1%. Shipping in Europe and polysilicon rose over 1%