Midday Report: Shanghai Composite Index closed flat at noon, with the oil and natural gas, and port and shipping sectors all rallying.

In the morning session, the performance of the three major indexes diverged. By noon, the Shanghai Composite Index was flat, the Shenzhen Component Index fell by 0.75%, the ChiNext Index fell by 0.78%, and the BeiGene 50 Index fell by 4.17%. The total turnover of Shanghai, Shenzhen and Hong Kong markets in the first half of the day was 2.09 trillion yuan, an increase of 493.6 billion yuan from the previous day. Over 4300 stocks in the entire market fell. In terms of sectors, stocks related to oil and gas exploration and services, shale gas, precious metals, port shipping, banks, chemical raw materials, coal mining and processing, corn, and fiber optic concepts performed well. On the other hand, stocks in the gaming, cultural media, education, cloud computing, solar equipment, and CRO sectors saw the biggest declines. Last weekend, the sharp escalation of the conflict in the Middle East and the substantial blockade of the Hormuz Strait led to a collective surge in the oil and natural gas, shipping, and gold sectors. Stocks such as Tongyuan Petroleum, CNOOC, China Oil, Nanjing Port, and CNOOC South China Sea all hit the limit up. The chemical sector also benefited from the expected price increases, with Red Star Development and Jinniu Chemicals among the stocks hitting the limit up. The retail prices of optical fiber cables continue to rise, leading to strong performance of optical fiber concept stocks, with Changfei Fiber Optics hitting the limit up again during the session. In addition, sectors such as food, electricity, and banks experienced surges at one point. On the other hand, stocks in AI application sectors like gaming, media, and cloud computing mostly weakened, with companies like Century Huatong, Kunlun Wanwei, and CITIC Publishing leading the decline. Similarly, CRO concept stocks also performed poorly, with Haoyuan Pharma, Boton Stock, and Pharmstone Technology experiencing the biggest declines.