A-share CPO concept stocks plunged sharply, with Tianfu Communications falling nearly 9%, while Hong Kong stocks surged across the board, with Yao Cai Securities Finance surging 70%

Reporter | Jiang Peixia Intern Reporter | Lin Qianwei

Editor | Xie Zhen

On March 17, the three major A-share indices all turned positive, with the Sci-Tech Innovation Board Index down 0.6%. Leading declines were sectors such as CPO, oil and gas, lithography machines, and cultivated diamonds. Over 2,100 stocks in Shanghai, Shenzhen, and Beijing declined.

Image source: 21 Finance Client

The photovoltaic equipment sector initially surged, with Huamin Co. rising over 10%, Maiwei Co. and Guosheng Technology up more than 5%, and Autowise and Junda Co. also climbing.

The real estate sector initially surged, with Zhongzhou Holdings hitting the daily limit, and China Everbright Property, Huaxia Happiness, I Love My Home, Beichen Industrial, and Shilianxing following suit.

The optical module (CPO) index fell more than 4% during the session, with significant stock differentiation. Tianfu Communication dropped nearly 9%, Guangku Technology down over 6%, Changguang Huaxin down over 5%, Robotech down nearly 5%, Liante Technology down nearly 4%, with only Zhongji Xuchuang and Yisheng showing countertrend gains. As of now, institutional funds have net outflows of 294 million yuan, and large-cap funds have net outflows of 15.37 million yuan. The extended industry technology iteration cycle has caused some short-term market sentiment disturbance, and related future positive factors have yet to support current sector valuations.

Nvidia CEO Jensen Huang announced several major technological breakthroughs at GTC 2026, including the next-generation AI chip architecture Feynman, which uses TSMC’s 1.6nm A16 process and introduces optical communication technology. It is expected to be launched in 2028, reducing AI data center communication energy consumption by over 70%.

Hong Kong stocks surged during the session, with the Hang Seng Index up over 1% and the Hang Seng Tech Index up over 2%.

Tech stocks collectively strengthened, with Leapmotor rising over 4%, NIO up over 3%, and Li Auto nearly 2%. Alibaba rose over 2%, and the company established the Alibaba Token Hub business group, directly led by CEO Wu Yongming.

Ant Financial concept stocks strengthened, with Yao Cai Securities Finance soaring 70%. News indicates that the tender offer initiated by Ant Group has been approved by relevant Chinese authorities, with completion expected by March 30.

Hong Kong real estate stocks also rose, with Sunac China up over 8%, and CIFI Holdings, Jin Hui Holdings, and Vanke following suit.

Optical communication concept stocks weakened, with Long Fiber Cable down nearly 7%, Cambridge Technology down 4.22%, and Huahong Semiconductor down 3.60%.

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