A-Share Market Opens Higher with ChiNext Up 0.79%; Controlled Nuclear Fusion and CPO Sectors Active
Taylor Wilson
China's A-share indices opened mixed — ChiNext rose 0.79% while the Shanghai Composite slipped 0.06%, with tech themes leading and legacy cyclicals under pressure, signaling that capital continues to favor growth over value.
Who led and who lagged at the open?
ChiNext opened up 0.79%; the Shanghai Composite dipped 0.06% — a clear split among the three main indices.
Controlled nuclear fusion and CPO stocks were the most active, drawing strong speculative interest.
Non-ferrous metals, brokerages, and coal led the declines — all traditional cyclical sectors.
This means → the style rotation is unambiguous: money is moving out of "old economy" into "new tech."
What are brokerages saying about the outlook?
Three major houses all lean bullish; the disagreement is on pace, not direction.
Guotai Haitong (国泰海通) sees falling uncertainty, rising growth expectations, and fresh inflows converging to open a new upswing window for Chinese equities.
Orient Securities (东方证券) notes the Shanghai Composite is pushing toward 4,100 — the downtrend channel from the 4,258 high has been broken, and the index will likely edge higher this week.
In plain terms = every major house thinks the market can still climb; they only differ on how fast.
Why is tech leading the charge?
Founder Securities (方正证券) attributes the rally to catalysts like the U.S.–Iran deal, which lifted risk appetite and shifted the market back into a tech-led style.
Guotai Haitong highlights tech, manufacturing, and broker/bank stocks as top picks, with some traditional sectors also poised for a recovery.
This means → tech leadership is not a short-term fad — it is the consensus mainline across brokerages.
Can this rally last?
Founder Securities notes that as mid-year earnings season approaches, tech sub-sectors with real profit support still have upside.
But the key test is clear: whether companies can deliver actual earnings in the reporting season will determine how far this tech rally extends.
In plain terms = the market is pricing in expectations right now; profits need to follow — if they don't, a pullback is likely.
Content is for reference only, not financial advice.