The Shanghai Composite Index returns to 3,400 points, pharmaceutical stocks surge, the Hang Seng Tech Index rises by 3%, new consumption trio shows divergence, MIXUE GROUP jumps by 9%

On June 9th, Monday, the A-shares opened high, with all three major indices rising collectively. The Shanghai Composite Index returned to 3,400 points, and sectors such as biomedicine and brokerage were active. The Hong Kong stock market opened high and continued to rise, with the Hang Seng Index and Hang Seng Tech Index both increasing by over 1%. Technology stocks strengthened, while the new consumption trio showed divergence, with MIXUE GROUP soaring by 9% and Laopu Gold dropping by over 1%. In the bond market, government bond futures mostly rose. Core market trends:

A-shares: As of the time of writing, the Shanghai Composite Index rose by 0.38%, the Shenzhen Component Index rose by 0.85%, and the ChiNext Index rose by 1.65%.

Hong Kong stocks: As of the time of writing, the Hang Seng Index rose by 1.37%, and the Hang Seng Tech Index rose by 2.88%.

Bond market: As of the time of writing, the main contract for 30-year government bond futures rose by 0.20%, the main contract for 10-year futures rose by 0.09%, the main contract for 5-year futures rose by 0.05%, and the main contract for 2-year futures rose by 0.01%.

In terms of news, data released by the National Bureau of Statistics showed that China's CPI in May was -0.1% year-on-year, the previous value was -0.1%, and China's PPI in May was -3.3% year-on-year, the previous value was -2.7%. The Bureau stated that the month-on-month decline in CPI in May was mainly affected by the drop in energy prices, which fell by 1.7% month-on-month, impacting the month-on-month decline in CPI by about 0.13 percentage points, accounting for nearly 70% of the total decline in CPI.

10:27

The Hang Seng Index rose by 1.5%, and the Hang Seng Tech Index's gains expanded to 3%. Kingdee International rose nearly 9%, Tencent Music rose over 6% to a new high, and Kuaishou rose by 6%. WuXi Biologics rose by over 5%. Rare earths, film and television media, and new consumption concepts were booming, with China Rare Earth rising over 30% and Alibaba Pictures rising nearly 17%.

10:15

Hong Kong stocks in the new consumption concept sector strengthened during the session, with Bruker rising over 16%, MIXUE GROUP rising over 8%, Gu Ming rising nearly 4.5%, and Pop Mart rising by 1.8%.

10:14

Pharmaceutical and medical stocks continue to strengthen, with innovative drugs leading the rise. Changshan Pharmaceutical hit the 20% daily limit, and its stock price reached a new historical high. Stocks such as Ruizhi Pharmaceutical, Haichen Pharmaceutical, Luoxin Pharmaceutical, Anglikang, Zhongsheng Pharmaceutical, and Lianhua Technology also saw their boards sealed.

10:01

The rare earth permanent magnet sector has significantly strengthened, with Zhongke Magnetic Materials hitting the 20% daily limit. Stocks such as Jiuling Technology, Dadi Bear, Yingluohua, and Galaxy Magnet rose over 5%.

In terms of news, a spokesperson for the Ministry of Commerce answered reporters' questions on June 7 regarding export control measures for medium and heavy rare earths, stating that implementing export controls on rare earths aligns with international practices, and China has legally approved a certain number of compliant applications.

According to reports cited by the Global Times, less than two days after a call between Chinese and American leaders on June 5, U.S. President Trump announced on social media on June 6 that U.S. trade officials would hold talks with Chinese representatives in London on Monday (June 9). Trump also stated, "The talks should go smoothly." Reports indicate that the China-U.S. economic and trade discussions in London will focus on tariffs, technology, and rare earths.

09:58

The performance of the new consumption trio is diverging, with MIXUE GROUP soaring 9%, Pop Mart rebounding over 1%, while Laopu Gold fell over 1%.

According to news from the Chasing Wind Trading Desk, UBS's latest research report has significantly downgraded the rating of MIXUE Ice City from "Neutral" to "Sell," with concerns focused on two aspects: 1) Overvaluation, which has fully reflected or even exceeded long-term growth expectations; 2) Overseas business facing significant setbacks, resulting in negative growth.

UBS raised the target price for MIXUE Ice City to HKD 477.13, but there is still an 11% downside from the current stock price of HKD 536. Analysts believe that the 43x/36x price-to-earnings ratios for 2025/26 and the 2.2x PEG ratio have fully reflected long-term growth expectations, while the slow recovery of overseas business further weakens investment value.

09:46

In the early trading session, the large financial sector experienced fluctuations and rises, with Xinda Securities hitting the daily limit. Additionally, Yong'an Futures and Nanhua Futures also hit the limit, while Dongxing Securities, Hongye Futures, China Galaxy, and Everbright Securities followed suit.

In terms of news, on June 6, the China Securities Regulatory Commission announced that the applications for changes in actual controllers for Changcheng Guorui Securities, Dongxing Securities, Xinda Securities, Dongxing Fund, Xinda Australia Fund, Changcheng Futures, Dongxing Futures, and Xinda Futures have been approved, with Central Huijin Investment Limited becoming their actual controller 09:45

The biopharmaceutical sector surged, with active directions including innovative drugs, CRO, and weight loss drugs. Changshan Pharmaceutical continued to hit historical highs, Ruizhi Pharmaceutical rose over 10%, Anglikang and Zhongsheng Pharmaceutical hit the daily limit, while Beilu Pharmaceutical, Yuekang Pharmaceutical, Nanxin Pharmaceutical, Aidi Pharmaceutical, Shutaishen, Yipinhong, and several other stocks rose over 5%.

Galaxy Securities' research report indicates that the pharmaceutical market will experience sustained recovery, with structural opportunities still present. From the perspective of short-term and medium-to-long-term certainty growth, it is advisable to select targets, with a positive outlook on the innovative drug industry chain's continued strong performance this year.

09:44

The Hang Seng Index rose over 1%, and the Hang Seng Tech Index's increase expanded to 2%. Kingdee International rose nearly 5%, while Meituan and Tencent Music rose over 4%. WuXi Biologics rose over 4%.

09:43

The ChiNext Index surged over 1%, the Shanghai Composite Index rose 0.23%, and the Shenzhen Component Index rose 0.46%. Sectors such as pharmaceuticals, securities, and solid-state batteries led the gains, with nearly 3,500 stocks rising in the Shanghai, Shenzhen, and Beijing markets.

09:20

The Hang Seng Index opened up 0.78%, and the Hang Seng Tech Index rose 0.97%. Tencent Music and Meituan rose over 2%, Nio rose nearly 2%, while JD.com, Xiaomi, Kuaishou, and Alibaba rose over 1%.

09:00

Commodity futures opened, with the main contract for the shipping European line falling over 3%. Shanghai gold, alumina, coke, apples, No. 20 rubber, and urea fell over 1%. Asphalt, crude oil, and short fibers rose over 1%.

Risk warning and disclaimer

The market has risks, and investment should be cautious. This article does not constitute personal investment advice and does not consider individual users' specific investment goals, financial conditions, or needs. Users should consider whether any opinions, views, or conclusions in this article align with their specific circumstances. Investing based on this is at one's own risk