Recently, the dark side of the moon officially released the trillion-parameter MoE model Kimi K2.5, along with the open-source OCR 2 from DeepSeek, leading to a rebound in AI application stocks, with companies like iFLYTEK hitting the daily limit. There are reports that multiple real estate companies are no longer required by regulatory authorities to report &#34;three red lines&#34; data monthly, resulting in increased activity in the real estate sector during the morning session.
On January 29, the A-share market showed a mixed performance, with the Shanghai Composite Index slightly declining in the morning, while the ChiNext Index fluctuated upwards. AI application concept stocks surged, and sectors such as liquor, real estate, and healthcare strengthened during the session. The Hong Kong stock market fell, with both the Hang Seng Index and the Hang Seng Tech Index declining, while domestic property stocks rose, and sectors like non-ferrous metals and semiconductors collectively adjusted.
In the bond market, government bond futures rose across the board, with the 30-year government bond futures contract increasing by 0.3%. In commodities, domestic commodity futures saw widespread gains, with Shanghai gold soaring over 7%. Core market performance:
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A-shares: As of the time of writing, the Shanghai Composite Index fell by 0.18%, the Shenzhen Component Index rose by 0.05%, and the ChiNext Index increased by 0.43%.
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Hong Kong stocks: As of the time of writing, the Hang Seng Index rose by 0.11%, while the Hang Seng Tech Index fell by 0.30%.
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Bond market: Government bond futures rose across the board. As of the time of writing, the 30-year main contract rose by 0.32%, the 10-year main contract rose by 0.12%, the 5-year main contract rose by 0.06%, and the 2-year main contract rose by 0.01%.
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Commodities: Domestic commodity futures rose broadly. As of the time of writing, Shanghai gold surged over 7%, Shanghai silver rose by 5%, fuel oil and asphalt rose over 2%, while rubber, alumina, ferrosilicon, coke, coking coal, and Shanghai aluminum rose over 1%. Shanghai copper, soybean meal, iron ore, glass, shipping index, rebar, platinum, pulp, rapeseed, palladium, hot-rolled coil, caustic soda, industrial silicon, eggs, and stainless steel also increased, while Shanghai nickel fell, and Shanghai tin dropped over 1%. Polysilicon and lithium carbonate fell over 2%.
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10:27
The real estate sector in both A-shares and Hong Kong stocks strengthened during the session, with companies like GZPR, GRANDJOY, Shen Shen Fang A, and Sanxiang Impression hitting the daily limit
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In the Hong Kong stock market, Sunac China rose over 21%, while China Aoyuan, Kaisa Group, Country Garden, CIFI Holdings Group, and Shimao Group all saw increases of over 10%.
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10:15
The upward trend in AI applications is expanding, with over 10 stocks including Xinhua Net, People's Daily, InSai Group, Gravity Media, Yue Media, iFLYTEK, and Zhewen Interactive hitting the daily limit up. Liujin Technology, Zhuoyi Information, Tianlong Group, BlueFocus, and Yidian Tianxia all rose over 10%.
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09:41
There are partial fluctuations in the AI application sector, with Tiandi Online achieving 5 limit-ups in 9 days, Huamei Holdings reversing to hit the limit up, and InSai Group, iFLYTEK, Zhewen Interactive, BlueFocus, and Haitan Ruisheng following suit.
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In terms of news, the K2.5 model released by Kimi on January 27 has topped multiple global charts just one day after its launch. On the authoritative chart LMarena, Kimi K2.5 ranks first among open-source models, only behind closed-source models like Claude opus 4.5 and Genimi3 Pro.
09:36
The non-ferrous metal sector is strengthening again, with Yiqiu Resources and Chang Aluminum Co., Ltd. achieving two consecutive limit-ups, Ding Sheng New Materials hitting the limit up, and Zinc Industry Co., Ltd. and Tongling Nonferrous Metals approaching limit-up, while Zhuye Group and Pengxin Resources are among the top gainers.
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09:32
Oil and gas stocks continue to strengthen, with Tongyuan Petroleum rising over 10%, Sinopec Oilfield Services hitting the limit up, and Zhun Oil Co., Ltd., Zhongman Petroleum, Keli Co., Ltd., and CNOOC Development among the top gainers.
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09:30
The Hang Seng Tech Index's initial decline has expanded to 1.2%.
09:26
The Shanghai Composite Index opened up 0.11%, while the ChiNext Index fell 0.03%. The precious metals sector continues to strengthen, with stocks like Sichuan Gold, Hunan Gold, and Western Gold hitting the limit up; oil and gas, as well as base metals sectors, are rising again. AI applications, computing hardware, photovoltaics, and commercial aerospace concept stocks are experiencing a pullback
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09:21
The Hang Seng Index opened down 0.72%, and the Hang Seng Tech Index fell 0.79%. Tech stocks generally declined, with Nio down over 3%, JD Group down over 2%, and XPeng, Trip.com Group, Alibaba, and others also falling.
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The upward trend in AI application directions has expanded, with more than 10 stocks including Xinhua Net, People's Daily, Insai Group, Inertia Media, Guangdong Media, iFLYTEK, and Zhewen Interactive hitting the daily limit. The real estate sector in both A-shares and Hong Kong stocks strengthened during the trading session, with Zhujiang Co., Grandjoy, Shenzhen Properties A, and Sanxiang Impression reaching the daily limit. In the Hong Kong stock market, Sunac China rose over 21%, while China Aoyuan, KAISA GROUP, COUNTRY GARDEN, CIFI HOLD GP, and Shimao Group all saw increases of over 10%

- The recent launch of the trillion-parameter MoE model Kimi K2.5 has led to a significant rebound in AI application stocks, with companies like iFlytek hitting their trading limits.  
- Several real estate companies are reportedly no longer required to submit monthly "three red lines" data, making the real estate sector particularly active in morning trading.  
- On January 29, A-shares exhibited mixed trends, with the Shanghai Composite Index slightly down and the ChiNext Index rising, while domestic commodity futures saw widespread gains, especially in gold.

Wallstreetcn

GZPR

Hwabao WP CSI 800 Real Estate ETF

Yinhua CSI Interior Real Estate Theme ETF

China Southern CSI All Share Real Estate ETF

Sunac China

KAISA GROUP

CHINA AOYUAN

COUNTRY GARDEN

ChinaAMC CSI All Share Real Estate ETF

Zhewen Interactive

Sanxiang Impression

GRANDJOY

CIFI HOLD GP

The Shanghai Composite Index fell slightly, AI applications triggered a surge in limit-up stocks, real estate rose strongly, the Hang Seng Index turned positive, tech stocks adjusted, and Shanghai gold and silver surged