NVIDIA's earnings forecast crushed market expectations, sending A-share optical communication concept stocks surging on Wednesday morning.

On August 27th, A-shares opened higher and extended gains through the morning session, with the Shenzhen Component Index and ChiNext Index both climbing over 1%. The STAR 50 Index jumped 3%, driven by strength in computing hardware and semiconductor names. Optical communication, optical modules, HBM, optical circuit switches, and storage chip concept stocks saw broad gains, while sectors including electrical equipment, biotech, solar, and energy storage lagged.

Hong Kong stocks opened higher but quickly reversed course, with the Hang Seng Index and Hang Seng Tech Index slipping in early trading. Tech stocks traded mixed, while semiconductor names rebounded collectively, with Montage Technology and GigaDevice leading the gains. New consumer concept stocks fell across the board, while AI large-model duo Zhipu and MINIMAX also bounced back. Additionally, Zhongji Innolight's H-shares climbed over 4% after both the Shanghai and Shenzhen stock exchanges announced the stock would be added to the Stock Connect southbound trading list, effective from August 27th.

In the bond market, treasury futures traded with a downward bias. In commodities, most domestic futures contracts declined.

Key market movements:

A-shares: As of writing, the Shanghai Composite Index was up 0.03%, the Shenzhen Component Index gained 0.24%, and the ChiNext Index rose 0.43%.

Hong Kong stocks: As of writing, the Hang Seng Index was down 0.56%, while the Hang Seng Tech Index edged up 0.05%.

Bonds: Treasury futures fluctuated lower. As of writing, the 30-year main contract was up 0.02%, the 10-year main contract was flat, the 5-year main contract dipped 0.01%, and the 2-year main contract was unchanged.

Commodities: Most domestic commodity futures fell. As of writing, crude oil was up over 2%, while soybean meal, silver, and asphalt gained more than 1%. Rubber, manganese silicon, coking coal, fuel oil, rebar, aluminum, industrial silicon, and gold also moved higher. On the downside, pulp, hot-rolled coils, iron ore, copper, polysilicon, nickel, eggs, platinum, glass, lithium carbonate, and coke declined, with the container shipping index, stainless steel, tin, alumina, and caustic soda falling over 1%.

10:56 AM: The STAR 50 Index extended gains to over 3%, with the Shenzhen Component Index and ChiNext Index both up more than 1%. The Shanghai Composite Index rose 0.42%. Computing hardware, semiconductor chips, and agriculture led gains, with more than 2,800 stocks advancing across Shanghai, Shenzhen, and Beijing markets.

10:18 AM: Storage chip concepts rallied in early trading, with Dapu Micro hitting the 20% daily limit within one minute, reaching a total market value exceeding 200 billion yuan.

On the news front, on August 26th, Dapu Micro announced it had signed a sales order with Customer A on August 25th, 2026, for its core product, enterprise-grade PCIe SSDs. The total order value, including tax, amounts to $515 million (approximately 3.491 billion yuan). The order takes effect upon written confirmation by both parties, with delivery due within 18 weeks of the effective date.

On August 24th, Dapu Micro released its first half-year report since listing. Driven by the robust wave of AI data center infrastructure investment, the company—which had accumulated losses of nearly 1.3 billion yuan over the past three years—achieved a dramatic turnaround. The semi-annual report shows that in the first half of 2026, Dapu Micro generated revenue of 4.722 billion yuan, up 531.17% year-over-year. Net profit attributable to shareholders reached 1.334 billion yuan, reversing a loss of 354 million yuan in the same period last year. Basic earnings per share came in at 3.28 yuan.

09:56 AM: Optical communication concept stocks surged, with CYG and Changxin Bochuang both rising over 10%, while YOFC and Hangzhou Cable hit the daily limit.

09:21 AM: The Hang Seng Index opened 0.48% higher, and the Hang Seng Tech Index gained 0.85%. Zhipu rose over 8%, MINIMAX climbed nearly 5%, Hansoh Pharmaceutical advanced over 5%, and Baidu gained more than 3%.