Growth Enterprise Market reaches its peak after 11 years, setting a new historical high

On May 13th, A-shares rallied further in the afternoon, with the three major indices collectively expanding their gains, both the Shenzhen Composite Index and the ChiNext Index rose by more than 1%, and the ChiNext Index broke through the 4037.96 points on June 5, 2015, setting a new historical high during trading.

Previously, only from June 3rd to 5th, 2015, the three trading days broke through 4000 points per trading day, but all closed below 4000 points.

At the market open, China's three major indices collectively fell, with the ChiNext Index initially falling by more than 1%, and the STAR 50 index falling by more than 2.5%, with nearly 3000 stocks in Shanghai, Shenzhen, and Beijing falling at one point. Subsequently, the market sentiment rapidly recovered, and all indices turned red, further rising in the afternoon, with over 3100 stocks rising across the market.

On the market, the AI computing power industry chain repeatedly strengthened throughout the day. The computing power rental concept led the gains, with Chengdi Xiangjiang, Lito Electronics, and Runjian Shares hitting their upper limits; the computing hardware direction such as PCB and CPO rose, with Kechuang Technology, Shengyi Technology, and HAN'S Laser hitting their upper limits and setting new highs; the storage chip and cultivated diamond sectors led the gains in the afternoon.

In terms of market news, driven by a 350% surge in Token demand, the capital expenditure forecast for hyper-scale cloud service providers for 2026 has been significantly revised up from $450 billion to $800 billion, and Morgan Stanley predicts that data centers will face a power deficit of 55GW.

Electricity shares have thus ignited a wave of upper limits, with Datang Power making six consecutive boards, followed by nearly a dozen shares such as Mindong Power, Huadian Liaoneng, Jinyan Power, Jingneng Power, Ningbo Energy, and Shaoneng Shares hitting their upper limits. The power grid equipment concept also rose in sync, with Jinpan Technology rising by more than 12%, and Hanhe Shares making two consecutive boards. Additionally, ultra-high voltage, photovoltaic, consumer electronics, and industrial metal sectors were active.

On the down side, insurance, brokerage, real estate, lithium mines, and biomedical sectors corrected, with China Pacific Insurance falling by more than 4%.

Hong Kong stocks also opened lower and rose. Both the Hang Seng Index and the Hang Seng Technology Index fell initially, with the Hang Seng Technology Index falling by more than 1%, Hua Hong Semiconductor falling by more than 6%, and SMIC falling by nearly 5%. Subsequently, the market fluctuated upwards, and both the Hang Seng Index and the Hang Seng Technology Index turned red near noon.

Most large technology stocks rose, with better-than-expected performance in the first quarter. JD.com's more than 7% surge was particularly eye-catching, Meituan rose by more than 5%, and Xiaomi and Tencent both rose by more than 1%. By noon, the Hang Seng Index rose by 0.26%, and the Hang Seng Technology Index rose by 0.52%.