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Traditional Chinese Medicine Stocks Surge Against the Market as Pien Tze Huang and ZBD Pharma Hit Limit Up, While Chip Stocks Plunge Across the Board
China's A-share market underwent volatile adjustments today, with the Shanghai Composite Index falling 1.85 percent and losing the 3,900-point level. However, the traditional Chinese medicine sector surged against the market, with Pien Tze Huang and ZBD Pharma hitting their daily limit up in the afternoon. The pharmaceutical and biological industry saw a net inflow of over 5 billion yuan in main funds, and the TCM sector index rose more than 3 percent at one point during the session, marking seven consecutive positive daily candlesticks. Harbin Pharmaceutical Group locked in its fifth straight daily limit up, while Hainan Haiyao achieved its second consecutive daily limit up. Chip stocks, on the other hand, suffered a broad sell-off, with the semiconductor sector index plunging more than 5 percent. Companies such as JCET and Demingli hit limit down in batches. Global chip stocks also faced heavy selling, with South Korea's SK Hynix tumbling 11.53 percent and Japan's Kioxia plummeting 15.03 percent. On the news front, the State Council approved the 15th Five-Year Plan for the Revitalization and Development of Traditional Chinese Medicine, and the 2026 edition of the National Essential Medicines List added 48 new proprietary Chinese medicines.