Shanghai Composite Index rises slightly, oil and gas, chemical sectors surge again, Hengke Index spikes then pulls back, tech stocks adjust, crude oil futures jump 16%

SnapshotLaborer · 2026-03-12T02:36:17+00:00

A-shares continue to be affected by geopolitical conflicts, with sectors such as oil and gas, and chemicals rising again, as concerns over energy supply disruptions intensify. The bond market and commodity futures also performed actively, especially with crude oil futures soaring significantly. Hong Kong stocks fluctuated and declined, with technology stocks generally falling. The overall market faces considerable volatility.

SnapshotLaborer

2026-03-12 02:36:17

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A-shares in the oil, gas, and chemical sectors surged again due to ongoing geopolitical conflicts, with the Strait of Hormuz being blocked. Market concerns over energy supply disruptions remain.

On March 12, the A-share market fluctuated downward. The Shanghai Composite Index slightly recovered in the morning, while the ChiNext Index opened high and then declined, falling nearly 1% at one point. Oil, gas, chemicals, and coal sectors rose again, with power stocks active. Hong Kong stocks also declined amid volatility, with most tech and internet stocks falling. In the bond market, government bond futures generally rebounded. In commodities, domestic futures rose across the board, with crude oil, fuel oil, and shipping indices soaring over 10%. Market highlights:

A-shares: As of the report, the Shanghai Composite rose 0.13%, the Shenzhen Component fell 0.26%, and the ChiNext Index declined 0.55%.

Hong Kong stocks: As of the report, the Hang Seng Index fell 0.59%, the Hang Seng Tech Index dropped 0.25%.

Bond market: Government bond futures declined across the board. As of the report, the 30-year main contract rose 0.04%, the 10-year, 5-year, and 2-year main contracts remained flat.

Commodities: Domestic commodity futures rose broadly. As of the report, crude oil futures increased 16%, fuel oil nearly 15%, shipping index and caustic soda over 10%. Asphalt, glass, and coke rose more than 4%, while coke, alumina, rapeseed oil, rubber, industrial silicon, iron ore, pulp, soybean meal, manganese silicon, Shanghai aluminum, and others gained over 1%.

10:06

Inner market low-sulfur fuel oil futures main contracts surged nearly 20%, crude oil up over 14%, fuel oil over 13%.

09:34

MicroLED concept stocks surged rapidly, with Huacan Optoelectronics up over 13%, and others like Jufei Optoelectronics, Sanan Optoelectronics, Leyard Optoelectronics, Guoxing Optoelectronics, and Ruifeng Optoelectronics following suit.

According to the latest survey by TrendForce and Jibang Consulting, as generative AI rises, data centers’ demand for high-speed transmission continues to grow. Micro LED CPO solutions have lower unit transmission energy consumption, significantly reducing overall energy use to 5% of copper cable solutions, potentially making them a preferred optical interconnect alternative due to energy savings.

09:30

Early trading saw active compute power leasing concepts, with Hongjing Technology up over 10%, hitting a new high. State Grid Information & Communication, Yuntian Lifei, Chuangye Black Horse, Meili Cloud, Qunxing Toys, and Digital China also rose.

On the news front, Tencent Cloud announced that starting March 13, it will adjust the pricing for some models on its AI development platform (Tencent Cloud ADP), with increases generally exceeding 400%.

Chemical sector fluctuated again, with Sanfangxiang hitting the daily limit. JinNiu Chemical, China Salt Chemical, Jinpu Titanium, Tongkun Shares, Tait Chemical, and Yida Shares opened high.
On March 11 evening, chemical futures continued to rise, with para-xylene hitting the daily limit, up 13%; PTA main contracts also hit the limit, up 13.01%; bottle chip main contracts reached the limit, up 12%; PVC rose nearly 9%, ethylene glycol up over 7%.

The Shanghai Composite Index opened flat, down 0.01%, while the ChiNext Index rose 0.22%. Rare metals, industrial mother machines, high-speed copper connections, superconductors, liquid-cooled servers, and short-form gaming stocks weakened; chemical stocks surged again, with oil and gas stocks showing partial activity.

The Hang Seng Index opened down 0.69%, the Hang Seng Tech Index down 0.6%. Most tech stocks declined, with Tencent Music down nearly 4%, Bilibili down over 2%, and leading declines from Alibaba, NIO, and Kuaishou.
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Commodity futures opened with strong gains. Main contracts for para-xylene, PTA, and bottle chips hit the daily limit; LU fuel oil up over 14%; crude oil up over 13%; short-fiber over 11%; pure benzene and ethylene glycol up over 10%; shipping EU line and styrene up over 9%. Shanghai silver fell over 3%.
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