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Shanghai and Shenzhen A-share Indices Fall 0.5% to 1.8% at Midday; Chip Stocks Weaken, Shipping and Innovative Drug Plays Extend Gains
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The RMB central parity against the USD was set at 6.8880, adjusted stronger by 145 bps MoM. The People's Bank of China conducted a seven-day reverse repo operation of RMB500 million in the open market today (2nd), with the operating rate unchanged at 1.4%. A total of RMB224 billion in reverse repos matured today, resulting in a net liquidity withdrawal of RMB223.5 billion for the day. The US-Iran conflict remains unresolved, with geopolitical tensions still unstable. US President Donald Trump said in a televised address on Iran that the US will launch "extremely severe" strikes against Iran in the coming weeks. The three major A-share indices opened lower and trended downward. At midday, the Shanghai Composite Index closed at 3,927 points, down 20 points or 0.5%, with turnover of RMB516.5 billion. The Shenzhen Component Index closed at 13,548 points, down 158 points or 1.2%, with turnover of RMB670.2 billion. The ChiNext Index closed at 3,189 points, down 57 points or 1.8%, with turnover of RMB294 billion. Mainland banking stocks bucked the trend. Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) rose 1% and 1.4%, respectively. CATL (300750.SZ) fell 0.6%, while BYD (002594.SZ) declined 1.1%. International oil prices remained at elevated levels. PetroChina (601857.SH) and CNOOC (600938.SH) gained 0.9% and 1%, respectively. Among oil and gas stocks, Zhongman Petroleum (603619.SH) surged 4.8%, while Shandong Molong (002490.SZ) rose 2%. Shipping stocks continued to strengthen, with China Merchants Energy Shipping (601872.SH) and China Merchants Nanjing Oil Shipping (601975.SH) jumping 8.7% and 8.2%, respectively. Chip stocks weakened. SMIC (688981.SH) A-shares fell 2.7%, while Hua Hong Semiconductor (688347.SH) A-shares dropped 3.4%. AI chipmaker Cambricon (688256.SH) declined 4.5%. Domestic GPU makers Muxi Technology (688802.SH) and Moore Threads (688795.SH) fell 4% and 2.7%, respectively. Some lithium mining concept stocks rebounded against the market trend. Sichuan Energy Investment Development (000155.SZ) hit the daily upper limit, while Tibet Mineral Development (000762.SZ) advanced 9.3%. Innovative drug concept stocks extended gains. Peking University Pharmaceutical (000788.SZ) hit the daily upper limit. Aurisco Pharmaceutical (002940.SZ) and Rundong Pharmaceutical (002923.SZ) climbed 4.9% and 2.3%, respectively. (ta/j) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. 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. Auto-translated by AI AASTOCKS Financial News |
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