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<A Shrs> A-shares' Three Major Indices Rise 1.2% to 1.4% at Midday; Chip and Innovative Drug Concept Stocks Surge
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US President Donald Trump is scheduled to deliver a national address at 9 PM Washington time on Wednesday (1st) to discuss the latest developments in the Iran war. Trump previously stated that he expects the US to conclude the Iran war in the coming weeks, as the US has essentially achieved its military objectives and will leave the task of reopening the Strait of Hormuz to other countries. The market is hopeful that the Iran war may soon end, leading to a rebound in the Asia-Pacific markets this morning (April 1). The People's Bank of China conducted a seven-day reverse repo operation of RMB5 billion today, with the operating rate remaining at 1.4%. Today, RMB78.5 billion of reverse repos matured, resulting in a net withdrawal of RMB78 billion for the day. China's March RatingDog Manufacturing PMI fell to 50.8, below expectations. The three major A-share indices rebounded. The Shanghai Composite Index closed at 3,944 points at midday, up 52 points or 1.4%, with a turnover of RMB586.6 billion; the Shenzhen Component Index closed at 13,640 points, up 161 points or 1.2%, with a turnover of RMB741.15 billion; the ChiNext Index closed at 3,222 points, up 37 points or 1.2%, with a turnover of RMB336.2 billion. Chinese bank stocks softened, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) down 0.3% and 1.1% respectively. Vanke (000002.SZ) opened 1.3% higher, with last year's loss expanding to RMB88.556 billion. Additionally, CATL (300750.SZ) rose 1%. BYD (002594.SZ) fell 2.2%. Chip stocks performed well, with SMIC (688981.SH) A-shares up 1.8%. Hua Hong Semiconductor (688347.SH) A-shares rose 6.7%. AI chip stock Cambricon (688256.SH) also rose 6.8%. Domestic GPU stocks Muxi Technology (688802.SH) and Moore Threads (688795.SH) rose 0.9% and 2.5% respectively. BOE Technology (000725.SZ) rose 3.1%, with a net profit of RMB5.857 billion in 2025, a YoY increase of 10.03%, and plans to repurchase A-shares worth RMB5 billion to RMB10 billion. Innovative drug concept stocks surged, with Haixin Co. (600851.SH), Anlikang (002940.SZ), and Rundu Co. (002923.SZ) all hitting the daily limit. Sungrow Power Supply (300274.SZ) opened lower and continued to fall, dropping 10.7%, as the company's revenue and net profit both declined in the fourth quarter of last year. Memory chip stock Demingli (001309.SZ) once hit the daily limit but later faced selling pressure, falling 1.9% by midday. The company expects a net profit of RMB3.15 billion to RMB3.65 billion in the first quarter of 2026, compared to a loss of RMB69.0877 million in the same period last year. (ta/da) Auto-translated by third-party software This translation was auto-generated by third-party software. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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