A-shares strengthen, ChiNext index rises over 1%! Micro-cap index rises over 2%, Beijing Stock Exchange 50 rises over 2%, nearly 4,300 stocks advance, computing power concept active, Dawning Information Technology hits 2-day limit up

February 28 | Major A-shares indices strengthen, ChiNext Index rises over 1%, the Shanghai Composite increases by 0.22%, and the Shenzhen Component rises by 0.71%. Artificial meat, weight loss drugs, securities, and state-owned enterprises lead the gains, with nearly 4,300 stocks in Shanghai, Shenzhen, and Beijing advancing.

Tonghuashun (300033) micro-cap index up over 2%, Beijing Securities 50 up over 2%.

A-shares brokerage stocks opened strong, with Western Securities (002673) hitting three consecutive daily limit-ups in four days, followed by gains in Huachuang Yunxin, Cinda Securities, Changjiang Securities (000783), Southwest Securities (600369), and Founder Securities (601901).

A-shares gaming stocks gained strength, including Ciwun Media (002343), which hit the daily limit, and China Digital Entertainment (300052), Huayi Brothers (300027), and Xunyou Technology (300467), which rose over 5%. Additionally, Tianzhou Culture (300148), Kaiying Network (002517), Shifeng Culture (002862), Caesar Culture (002425), and others also increased. On the news front, the National Press and Publication Administration released the February approval list for domestic online games on the 27th, with 111 games approved.

A-shares computing power concept stocks were active, with Sugon (中科曙光) hitting two consecutive limit-ups, and stocks like Runjian Shares (002929), Unigroup (紫光股份, 000938), China Digital Entertainment, Cambrian (寒武纪), and Zhongbei Communications (603220) rising over 5%. Zheshang Securities (601878) believes that generative AI could lead to a significant leap in social productivity, marking the beginning of the “Fourth Industrial Revolution.” The foundation of industrial development is a plentiful and low-cost supply of computing power, making the vigorous development of domestic computing power in China imperative.

The hydrogen energy sector was active early in the session, with Compton (603798), Hongtao Shares (002325), and Yinglite (000635) hitting the daily limit, Hanma Technology reaching the limit, and multiple stocks such as New Power (310328), Zhongtai Shares (300435), Shenghui Technology, and Houp Shares (300471) rising over 5%. According to the China Hydrogen Energy Alliance Research Institute, at the early 2024 local two sessions, 22 out of 31 provincial-level administrative regions included hydrogen energy in their government work reports, with the number of provinces mentioning hydrogen energy development increasing year by year.

Hong Kong tech stocks strengthened, with the Hang Seng Tech Index rising over 1%.