Youyan Silicon has surged 104 percent over the past ten trading sessions, doubling its share price. In early trading it briefly approached the 20 percent daily limit up, closing the morning session up 17.47 percent with a latest market value of 65.82 billion yuan. The company produces silicon wafers and silicon materials for etching equipment. On July 1, it laid the foundation for its large-size semiconductor silicon single crystal project in Baotou, Inner Mongolia. Once fully operational, the project will have an annual supply capacity of over 1,000 tonnes of single crystal silicon for integrated circuits and etching equipment. The broader chip sector strengthened, with the Shenwan Semiconductor Index rising 3.07 percent by midday. Shanghai Hejing hit the 20 percent daily limit up, Muxi shares jumped over 19 percent, and Moore Threads gained more than 14 percent. The rally was mainly fueled by news that ChangXin Technology has set its STAR Market IPO subscription date for July 16, aiming to raise 29.5 billion yuan to launch a major capacity expansion. In addition, US military strikes on Iran for a second consecutive day triggered geopolitical risks, pushing international oil prices higher. The domestic Shanghai SC crude oil futures traded at 482.9 yuan per barrel at midday, up 5.99 percent, sparking movement in the oil and gas sector. Tongyuan Petroleum rose over 17 percent, and Qianneng Hengxin gained more than 10 percent.
Tong Oil ToolsUS military strikes on Iran push oil prices higher, benefiting oil and gas sector
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