Afternoon surge! 001309 surges to daily limit! Storage chip concept suddenly rises

Afternoon A-shares surged, with the Shanghai Composite Index rising by 1.71% at the time of writing. The Shenzhen Component Index also increased by over 1%, the ChiNext Index turned positive, and the Sci-Tech Innovation Board Index soared by over 3%.

Hong Kong stocks also gained, with the Hang Seng Index and the Hang Seng Tech Index both rising by more than 2%.

Storage Chip Concept Soars Significantly

The storage chip concept rebounded sharply, with Demingli (001309) approaching the daily limit in the afternoon. Gu’ao Technology, Shangluo Electronics, Saiteng Co., Yingxin Development, and Qipai Technology also followed the rally.

On the news front, Wedbush analysts released a report on Monday stating that DRAM and NAND storage prices are rising rapidly. They expect that, based on the fourth quarter of 2025, prices will increase by triple digits in the first half of 2026. Among them, DRAM prices are expected to increase by 130% to 150%, with NAND prices approaching this level.

The small metal sector saw a short-term rally, with Yunnan Geology (002428) hitting the daily limit. Yian Technology, Xiamen Tungsten, and Zhangyuan Tungsten also followed the gains.

Hong Kong’s new consumer concept stocks strengthened in the afternoon. As of the time of writing, Laopuo Gold rose over 9%, Mixue Group increased over 7%, and Pop Mart gained more than 4%.

Crude Oil Surges

Today at noon, the Shenzhen Stock Exchange issued an announcement regarding the temporary suspension of the Jiashi Crude Oil Securities Investment Fund (QDII-LOF). The fund (short name: Jiashi Crude Oil LOF, fund code: 160723) was suspended from trading from the afternoon of March 24, 2026, due to the premium of its secondary market trading price not returning to normal, following the application of Jiashi Fund Management Co., Ltd. and relevant rules of the Shenzhen Stock Exchange.

Additionally, the Shenzhen Stock Exchange announced that the E Fund Crude Oil Securities Investment Fund (QDII) (short name: E Fund Crude Oil LOF, fund code: 161129) was also temporarily suspended from trading from the afternoon of March 24, 2026, for the same reason.

After a sharp decline last night, international crude oil prices surged on March 24.

On the geopolitical front, the latest news from the Middle East reports that, according to Xinhua News Agency, the Israeli Defense Forces issued a statement on the 24th saying that rescue teams are heading to multiple locations in southern Israel that were reported to have been attacked.

Earlier, Iran’s Islamic Republic Broadcasting reported that Iran launched a new round of missile attacks on Israel, with “missiles breaking through several Israeli missile defense systems.”

According to CCTV News, on March 23, the spokesperson of Iran’s Hatem Anbia Central Command issued a video statement emphasizing that Iran has taken the initiative in the relevant waters of the Persian Gulf and Oman Gulf on both sides of the Strait of Hormuz. Iran is controlling the Strait of Hormuz in a “highly intelligent and powerful manner,” so there is no need for Iran’s armed forces to lay sea mines in the Persian Gulf.

Some content compiled from People’s Financial News and other sources.

Proofreading: Yao Yuan