Chinese A-shares experienced a mixed session on September 8, with the three major benchmarks flipping to gains during mid-morning trading. The Shanghai Composite edged higher at the open, while the Shenzhen Component and ChiNext faced early pressure, with the latter once dropping over 1% alongside the STAR 50. As the session progressed, all three main indices turned positive, even as computing hardware and chip semiconductor stocks pulled back. Momentum shifted toward AI application, 6G, and copper industry themes, while agriculture, precious metals, and the media and culture sectors strengthened.

In Hong Kong, both the Hang Seng Index and the Hang Seng Tech Index opened lower and continued to decline, with the latter shedding over 1%. Most heavyweight tech stocks fell, and AI model shares weakened. Contemporary Amperex Technology Co Ltd (H-share) fell to its lowest intraday level since March 10. In the bond market, treasury futures consolidated in a narrow range, while domestic commodity futures largely traded higher.

Here are the key market levels: In mainland China, the Shanghai Composite gained 0.33%, the Shenzhen Component rose 0.50%, and the ChiNext added 0.57% as of writing. In Hong Kong, the Hang Seng Index slipped 0.58%, and the Hang Seng Tech Index dropped 1.05%. Treasury futures were slightly mixed, with the 30-year, 10-year, and 5-year main contracts flat, while the 2-year contract edged up 0.01%. Among commodities, most domestic futures advanced, with rubber climbing over 2% and silver, asphalt, crude oil, platinum, copper, fuel oil, and lithium carbonate rising over 1%. Palladium, tin, aluminum, eggs, iron ore, gold, coke, hot-rolled coils, rebar, industrial silicon, and soybean meal also trended higher. Conversely, coking coal, pulp, stainless steel, nickel, caustic soda, alumina, and polysilicon declined, while glass, the container shipping index, and manganese silicon fell over 1%.

At 10:35 AM, the A-share sugar sector rallied sharply as international sugar prices strengthened and global supply-demand conditions tightened. *ST Guangtang, COFCO Sugar, and Hongmian Shares all hit the daily limit up early.

The primary catalyst for this surge was a sharp spike in global sugar prices, driven by a strengthening El Ni帽o that has reduced cane output and sugar content. A representative from Thailand's sugar association stated that production for the 2026-2027 crushing season, starting in October, could fall below 10 million tonnes, compared with 12 million tonnes last season. Thailand is the world's second-largest sugar exporter, and together with Brazil and India, accounts for roughly 70% of global exports. Meanwhile, geopolitical tensions in the Middle East pushed oil prices higher, prompting Brazil, the top producer, to divert more cane toward ethanol rather than sugar. In August, international sugar prices jumped 21.5%, marking their strongest monthly gain since October 2010 when they rose 24%.

Data shows that China's sugar output for the 2024/25 season reached 11.16 million tonnes. In 2025, the country imported 4.92 million tonnes of sugar, up 13.1% year-on-year, with 4.29 million tonnes sourced from Brazil, accounting for 87.26%. Domestic spot sugar prices inched up as high international raw sugar prices narrowed the window for out-of-quota imports. This, alongside a rebound in domestic sugar futures, supported higher spot quotations.

At 10:26 AM, the ChiNext Index extended its rebound, turning 0.4% higher after previously falling over 1%.

At 10:20 AM, Contemporary Amperex Technology Co Ltd Hong Kong shares dropped over 4.5% to an intraday low not seen since March 10, with its A-shares also declining over 3%. The move came after Li Auto announced it would fully adopt its self-developed batteries across its lineup. In a social media post on September 7, Li Auto noted that the first batch of its new MEGA deliveries utilized CATL's 5C ternary lithium batteries, but as production preparation for its own batteries is completed, it will switch entirely to its proprietary 5C ternary lithium cells.

At 10:04 AM, AI application themes remained active, with Danheng Technology hitting the 20% limit up, while Jiachuang Vision, Silkroad Vision, Wondershare Technology, Visual China, and Fanta Interactive followed gains.

At 9:58 AM, both the ChiNext and STAR 50 indices fell over 1%.

At 9:41 AM, the 6G concept strengthened, with Wuhan Fangu hitting the limit up and Guangha Communication surging over 17%. Shenglu Communication, Tongyu Communication, and Sunwave Communication also advanced. This followed the Ministry of Industry and Information Technology's release of the "15th Five-Year Plan" for the information and communication industry, aiming to fully establish a next-generation communication network with comprehensive coverage and leading performance by 2030.

At 9:40 AM, the CPO concept rebounded, with Cambridge Industries hitting the limit up, supported by HC SemiTek, Zhongji Innolight, Tianfu Communication, and Longer Optics.

At 9:35 AM, the media sector continued its strong run from the previous session. China Publishing Media posted a third consecutive limit up, Duzhe Publishing Media secured a second straight limit up, and Boruichuan Media locked in a one-word limit up. CITIC Press rose over 16%, with Longban Media, Cishi Media, and Inner Mongolia Xinhua also leading gains.

At 9:29 AM, the agriculture, forestry, animal husbandry, and fishery sectors opened sharply higher, led by sugar and feed themes. Bogen Group reached a fourth limit up in five days, Hongmian Holdings locked in a one-word limit up, COFCO Sugar approached the limit, and China Fisheries, San Yuan Biology, Baolingbao, and Guannong posted notable gains.

On the news front, Thailand's sugar association said production for the 2026-2027 season could fall below 10 million tonnes. Additionally, Peru, the world's largest fishmeal supplier, faces sharply reduced catch quotas for 2026 due to El Ni帽o and a higher proportion of juvenile fish, leading to tight supply and significantly higher fishmeal prices.

At 9:26 AM, the Shanghai Composite opened 0.07% higher, while the ChiNext fell 0.13%. The insurance sector was subdued, and Tibet development themes were weak, but industrial gas and industrial metals themes were active.

At 9:21 AM, the Hang Seng Index opened 0.63% lower, and the Hang Seng Tech Index fell 0.56%. Financial and consumer stocks led declines, while resource stocks rose against the trend, with Jiangxi Copper climbing over 3%.