On September 22, A-shares opened higher and climbed steadily in morning trading, with all three major indices rallying at the open. The ChiNext board gained 2% as AI applications exploded and GPU concept stocks soared, with Hygon Information Technology, Moore Threads, and Muxi Technology all posting sharp gains. Semiconductor and chip stocks also surged, with MCU and ASIC chip sectors leading the advance, while shipping, oil and gas, and agriculture segments pulled back.

Hong Kong stocks also rose broadly in morning trade, with the Hang Seng Tech Index up over 1% as heavyweight tech names rebounded collectively. Tencent Holdings Ltd (HKSE: 0700) jumped 6%, following Meta's 11% surge overnight—its AI personal assistant app, Muse, surpassed ChatGPT's early performance in both downloads and daily active users within less than two weeks of launch. In the bond market, treasury bond futures traded higher with fluctuations. In commodities, most domestic futures contracts moved upward.

Key market trends:

A-shares: As of writing, the Shanghai Composite Index rose 0.24%, the Shenzhen Component Index gained 1.17%, and the ChiNext Index was up 1.91%.

Hong Kong: The Hang Seng Index edged up 0.03%, while the Hang Seng Tech Index gained 0.90%.

Bonds: Treasury futures oscillated higher, with the 30-year main contract up 0.05%, the 10-year main contract up 0.02%, the 5-year main contract up 0.01%, and the 2-year main contract flat.

Commodities: Most domestic commodity futures rose, with glass, polysilicon, and copper up 1% as of writing. Tin, coking coal, container shipping index, nickel, pulp, coke, rebar, eggs, stainless steel, soybean meal, rubber, alumina, lithium carbonate, hot-rolled coil, and iron ore all advanced, while palladium, manganese silicon, industrial silicon, silver, platinum, aluminum, gold, and rapeseed declined. Fuel oil, crude oil, and asphalt posted the largest losses.

At 09:54, the PCB concept strengthened repeatedly, with Guanghe Technology hitting its second consecutive limit-up, while Yihao New Materials and Kaihua Materials gained over 10%. Xianfeng Holdings touched the daily limit, and Weiergao, Hongshida, Sunlord Electronics, and Xingsen Technology rose over 5%. Earlier in the session, computing power leasing concepts rallied with Ersanling hitting the limit-up, while Sangfor Technologies, Shunwang Technology, Wangsu Technology, Xingyun Technology, Nanling Technology, and UCloud followed suit.

At 09:39, AI application concepts were active in morning trade, with Nanwei Software hitting a second consecutive limit-up and Zhidu Co reaching the daily limit. Guangyun Technology, CaiXun Co, Smile Group, Meideng Technology, and BlueFocus also advanced.

On the news front, Meta's AI personal assistant app Muse recorded 730,000 downloads within roughly five days of launch, surpassing 2.8 million cumulative downloads in 12 days, and topped the US iOS free app chart last Friday, overtaking ChatGPT, Anthropic's Claude, and xAI's Grok. Buoyed by this, Meta shares surged over 11% on Monday, prompting Wells Fargo to raise its price target to $796.

At 09:38, the ChiNext index expanded its gain to 2%, with CATL, Zhongji Innolight, Eoptolink Technology, and Three Ring Group rallying in tandem.

At 09:26, the Shanghai Composite Index opened up 0.35%, with the ChiNext up 1.37%. Storage, GPU, and HBM sectors led gains, with Hygon Information Technology rising over 7%.

At 09:21, the Hang Seng Index opened up 0.51%, and the Hang Seng Tech Index rose 1.01%. Montage Technology, MINIMAX-W, Yangtze Optical Fibre and Cable, Zhongji Innolight, and Tencent Holdings Ltd (HKSE: 0700) led the gains.