A-shares of innovative drugs hit multiple limit-ups, Minerva Pharmaceuticals was restricted from trading 6 times in 7 days, power stocks plummeted, and Hong Kong tech and internet stocks collectively dove.

Reporter丨Jin Shan

Editor丨Li Yutong

On March 30, the four major A-share indexes moved in different directions: the Shanghai Composite Index rose and turned back to positive after having fallen by more than 1% earlier. By the close, the Shanghai Composite Index was up 0.24%, the Shenzhen Component Index was down 0.25%, the ChiNext Index was down 0.68%, and the STAR Market Composite Index was down 0.18%. The combined trading value of the Shanghai and Shenzhen markets was 1.92 trillion yuan, an increase of 62.6 billion yuan versus the prior trading day, with more than 2,800 stocks rising across the whole market.

Looking at specific sectors, the afternoon saw volatility in the high-speed-rail track and interconnection concept. Shenzhou High-Speed Railway hit the daily limit, China Railway Engineering Industrial reached the limit intraday, and Geing Eagle Heavy Industries, Tiejian Heavy Industries, Tieda Technology, Jiao Da Tiefa, Tieke Railway and other stocks followed higher. According to information reported by CCTV Finance, China will build high-speed rail under the Yangtze River, with total investment in the river-crossing high-speed rail exceeding 500 billion yuan, which will boost value-added growth of upstream and downstream industries by nearly 1.5 trillion yuan. See more>>

The innovative drugs concept strengthened against the trend: Meinonghua saw 6-limit-up moves in 7 days, while Asia-Pacific Pharmaceuticals, Dongcheng Pharmaceutical, Lianhuan Pharmaceutical, Shuanglu Pharmaceutical, and Tianjin Pharmaceuticals all hit the daily limit. Stocks such as Sansheng Guojian, Haitai Biotechnology, and Rongchang Biotech also followed higher. On the information front, multinational giants have been making concentrated purchases of China’s innovative drug sector. In the first three months of this year, the total value of outbound licensing (BD) transactions for China’s innovative drugs surpassed 60 billion US dollars, already approaching half of the total 135.7 billion US dollars for the full year of 2025.

In addition, the commercial aerospace concept bottomed out and rebounded. Shengjian Co. notched a third consecutive daily limit, and Zengsheng Technology notched 3 daily limits in 4 days. Guangzhou Joint Aviation, Aerospace Power, and Henggen Design all hit the daily limit. The Nonferrous Metals·Aluminum direction stayed strong throughout the day, with Minfa Aluminum, Changlü Shares, Tianshan Aluminum, and Aluminum International all hitting the daily limit. The fiber-optic concept continued to rise steadily intraday: Feiteng Optoelectronics achieved 3 daily limits in 5 days and set a new all-time high, Hangdian Co. notched 3 daily limits in 4 days, and Farsong achieved 2 consecutive daily limits.

The power sector saw a sharp decline intraday, with Huadian Energy, Jinjing Power, Huadian Liaoning Energy, and Changyuan Power all hitting the daily limit on the downside.

In Hong Kong stocks, as of the time of the announcement, the Hang Seng Index was down nearly 1%, the Hang Seng Tech Index was down more than 2%, and large-cap internet and technology stocks fell across the board. BYD Electronic and XPeng Motors fell more than 5%, while Kingdee International, Kingsoft, Bilibili, Midea Group, and others fell more than 4%.

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(Statement: The article content is for reference only and does not constitute investment advice. Investors act at their own risk; risk is borne by the investor.)

Produced by丨21 Finance & Economics Client 21st Century Business Herald