A-shares at noon | The ChiNext Index rose over 1%, with precious metals, lithium mines, and computing hardware showing strength.

On August 21, the three major A-share indices opened lower, with the market showing fluctuations and strengthening in the early session, characterized by "index differentiation, widespread individual stock declines, and the continuation of structural hotspots." By the end of the morning session, the Shanghai Composite Index closed flat at 3,903.81 points, the Shenzhen Component Index rose 0.63% to 14,061.45 points, and the ChiNext Index increased 1.21% to 3,537.98 points. Over 3,500 individual stocks in the market fell, with 47 stocks hitting the daily limit up and 9 stocks hitting the daily limit down. The trading volume for the Shanghai and Shenzhen markets for half a day was 1.25 trillion yuan, a decrease of 117.9 billion yuan compared to the previous trading day. Market Overview On the upside, sectors such as precious metals, lithium mining, computing hardware, and liquid-cooled servers saw strong gains. On the downside, sectors including agricultural seed industry, innovative pharmaceuticals/CRO, and liquor declined. Overall, according to financial data from Star Mine, net capital flowed into communication, electronics, and non-ferrous metals sectors in the morning session, while there was net outflow from pharmaceuticals, chemical pharmaceuticals, and computer sectors. Capital remained structurally concentrated in hotspot areas such as computing hardware, precious metals, and lithium mining, while sectors like agriculture and innovative pharmaceuticals continued to experience capital outflow. Hot Sectors 1. Precious Metals Sector Continues to Rise The precious metals sector led the gains, with Shenzhen China Bicycle hitting the daily limit up for two consecutive days, while Hunan Silver, Baiyin Nonferrous Group, and Fuda Alloy Materials also hit the limit up. Zhuzhou Smelter Group, Chifeng Jilong Gold Mining, Beijing XIAOCHENG Technology Stock, and Western Region Gold followed suit. Commentary: In terms of news, spot gold rose more than 0.5% during the day, reaching $4,540 per ounce; on August 19, the U.S. Treasury announced a significant increase in the long-term government bond repurchase scale, and expectations of liquidity easing pressured real yields on U.S. treasuries down, pushing the internationally priced gold price above $4,500, reaching a new high since early June (nearly three months), which boosted the gold sector. 2. Lithium Mining Concept Gains Ground The lithium mining concept increased, with YOUNGY Co., Ltd. hitting the daily limit up, followed by Canmax Technologies, Jinzhou Yongshan Lithium, Guocheng Mining, Chengxin Lithium Group, and Tianqi Lithium Corporation. Commentary: In terms of news, lithium carbonate's main contract on the Guangqi Exchange rose nearly 2% during the day, breaking above 155,000 yuan per ton, leading to increased activity in the lithium mining sector. 3. Computing Hardware Sector Strengthens in Intraday Trading The computing hardware (CPO/optical module) sector showed strength during intraday trading, with Raisecom Technology, Fujian Star-net Communication, and Suzhou K-Hiragawa Electronic Technology hitting the limit up, followed by Zhongji Innolight and Eoptolink Technology Inc. Commentary: In terms of news, SK Hynix, in collaboration with the University of Virginia and other institutions, published a paper on CPO integrated optical technology in Nature Electronics, officially disclosing the roadmap for the next generation of optical interconnect technology, with CPO seen as the core solution to the "bandwidth wall" in AI computing; financial data from Star Mine showed that Zhongji Innolight had net capital inflows exceeding 2.2 billion yuan in the morning session. 4. Liquid-Cooled Server Concept Shows Active Performance The liquid-cooled server concept performed actively, with Feilong Auto Components and JinFu Technology hitting the daily limit up, followed by Zhejiang Dayuan Pumps Industry, Moon Environment Technology, and Sichuan Chuanhuan Technology. Commentary: In terms of news, NVIDIA's next generation 800HVDC architecture CDU is expected to adopt high-voltage DC electronic shield pumps, confirming that Google's 2MW CDU scheme can be utilized; institutions predict that 2026 may be the inaugural year for large-scale liquid cooling, with the global liquid cooling market for intelligent computing centers expected to reach 114.7 billion yuan, representing a year-on-year growth of 273%.