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【Introduction】The three major A-share indexes opened lower and then rose; the innovative drug sector surged, while energy metals and semiconductors gained.

China Fund Reporter Zhang Zhou

Hello everyone! Today is Friday, let’s pay attention to the latest market trends and news!

On the morning of March 27, the three major A-share indexes opened lower and then rose. As of the midday closing, the Shanghai Composite Index rose by 0.58%, the Shenzhen Component Index rose by 0.38%, the ChiNext Index rose by 0.07%, and the STAR Market Index rose by 0.96%.

More stocks rose than fell. A total of 1248 stocks in the market rose, 43 stocks hit the daily limit, and 4111 stocks fell.

On the market, the innovative drug concept sector strengthened, the lithium mining sector continued to rise, and rare metals and other sectors led the gains; sectors such as insurance and electricity had larger declines.

The Hong Kong stock market also rose. As of the time of publication, the Hang Seng Index slightly rose by 0.08%, the Hang Seng Technology Index rose by 0.57%, and the Hang Seng Biotechnology Index surged by 2.36%. In terms of individual stocks, CloudTop New Materials surged by 11%, CSPC Pharmaceutical Group rose over 7%, and Ascentage Pharma, Sirnaomics, Innovent Biologics, and BeiGene all rose.

Innovative drug sector climbs higher

Multiple stocks hit the daily limit

In the morning, the innovative drug concept sector in A-shares surged sharply, with Heng Rui Medicine rising nearly 6%.

Multiple stocks hit the daily limit, including Kintor Pharmaceutical, Zai Lab, Kanghong Pharmaceutical, Shuanglu Pharmaceutical, Lianhuan Pharmaceutical, and Wanbangde. Hotgen Biotech rose over 14%, Yinuo Si rose more than 12%, and MediXense, Chengdu XianDao, and Ruizhi Pharma also saw significant increases.

On the news front, data shows that as of March 21, 2026, China’s innovative drug overseas BD total contracts reached $57.1 billion, with an initial payment of $3.3 billion, totaling 53 cases. The total contract is equivalent to 41% of the total for 2025, already exceeding the total for 2024.

In addition, Lianhuan Pharmaceutical announced that its controlling subsidiary recently received the “Drug Supplement Application Approval Notice” for Nicardipine Tablets issued by the National Medical Products Administration.

CITIC Securities stated that the pace of innovative drugs going overseas continues to accelerate, with the CXO sector benefiting from the recovery of overseas orders and capacity expansion. The industry’s prosperity is steadily increasing, and leading companies have strong earnings certainty, with a gradually opening valuation repair space.

Energy metals sector rises sharply

In the morning, the A-share energy metals sector surged, with the lithium mining sector leading the gains, while cobalt, nickel, copper, and rare earths also rose.

In terms of individual stocks, Shengxin Lithium Energy and Rongjie Co. both recorded a 10% limit increase, while Ganfeng Lithium, with a market value of over 100 billion, rose over 6%, Yongxing Materials surged by 9%, and Huayou Cobalt, Tianqi Lithium, and Tibet Mining all saw significant increases, with Salt Lake Co. rising over 4%.

On the news front, the Zimbabwean government announced at the end of February an indefinite suspension of all raw ore and lithium concentrate exports, with the situation continuing to escalate. Media analysis indicates that this ban has led small and medium-sized mining companies into cash flow crises.

Additionally, soaring oil prices are becoming a central narrative in the current market, further triggering global anxiety over “energy security.”

Huatai Securities’ latest report pointed out that liquidity contraction and changes in risk appetite due to Middle Eastern events led to a weak fluctuation in lithium prices in the previous period. However, considering that supply disruption risks still exist in the Yichun region of China and overseas in Zimbabwe in the second half of the year, and the high oil prices are expected to boost demand for electric vehicles and energy storage, if we assume a neutral expectation for 2026 (with global new energy vehicle sales growth of 10%-15% year-on-year and energy storage cell shipment growth of 50%-60% year-on-year), global lithium carbonate is expected to maintain a tight balance in supply and demand.

Semiconductor sector shows active performance

In the morning, the semiconductor sector strengthened. Dinglong Co. rose over 14%, Aoi New Materials and Jiewa Technology rose over 10%, and Jiangfeng Electronics, Anji Technology, Shida Shenghua, Shanghai Xinyang (for rights protection), and Kaide Quartz all rose over 5%.

On the news front, the global semiconductor industry’s annual event, SEMICON China 2026, was held in Shanghai from March 25 to 27. Nearly 40 sci-tech board companies, including Zhongwei Company, Tuo Jing Technology, Huahong Company, and Gailing Electronics, showcased their heavy products and latest achievements, demonstrating the innovative strength and complete ecosystem of China’s semiconductor industry to the world.

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