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Shanghai and Shenzhen A-Share Indices Rise 0.5% to 2.7% at Midday; ChiNext Hits Nearly 11-Year High Again; CATL (300750.SZ) Gains Over 4% Post-Results; Lens Technology (300433.SZ) Slumps 12.7%
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The central parity of RMB against USD was set at 6.8616, down 34 bps MoM. The Peoples Bank of China conducted RMB500 million of seven-day reverse repos in the open market today (16th), with the operation rate unchanged at 1.4%. RMB500 million of reverse repos matured today. The National Bureau of Statistics announced that 1Q26 GDP reached RMB33.42 trillion, up 5% YoY, accelerating by 0.5 ppts from 4Q last year and above the market expectation of 4.8% growth. The three major A-share indices opened higher and extended gains, with the ChiNext Index outperforming with an increase of over 2%. The Shanghai Composite closed the half-day at 4,048, up 21 points or 0.5%, with turnover of RMB600.75 billion; the Shenzhen Component Index closed the half-day at 14,743, up 244 points or 1.7%, with turnover of RMB861.1 billion; the ChiNext Index closed the half-day at 3,608, hitting a fresh peak in nearly 11 years, up 93 points or 2.7%, with turnover of RMB421.05 billion. Among mainland banks, ICBC (601398.SH) fell 0.4%, while CCB (601939.SH) rose 0.2%. China International Capital Corporation (601995.SH) gained 1.6% after forecasting 1Q net profit to rise 65% to 90% YoY. Chip stocks performed well. Hua Hong (688347.SH) A-shares rose 1.1%. AI chipmaker Cambricon (688256.SH) advanced 2%. Domestic GPU players MetaX Integrated Circuits (688802.SH) and Moore Threads (688795.SH) climbed 4.8% and 1.6%, respectively. SMIC (688981.SH) A-shares edged down 0.1%. Construction machinery stocks declined, with Zoomlion (000157.SZ) and XCMG Machinery (000425.SZ) falling 6% and 4.2%, respectively. Innovative drug-related stocks retreated. Salubris Pharmaceuticals (002294.SZ) hit limit-down. Cosunter Pharmaceutical (300436.SZ) and Suntar Therapeutics (300204.SZ) plunged 6.5% and 4.5%, respectively. CATL (300750.SZ) opened higher and extended gains, rising 4.4%. Its 1Q26 net profit reached RMB20.738 billion, up 48.52% YoY, while revenue increased 52.45% YoY to RMB129.13 billion. CATL plans to establish a subsidiary, Times Resources Group, to integrate its existing mining assets, with a proposed registered capital of RMB30 billion. Market sources said the company is seeking removal from a US Department of Defense list. Two major lithium miners, Ganfeng Lithium (002460.SZ) and Tianqi Lithium (002466.SZ), continued to rise, up 3.5% and 4.5% at midday, respectively. BYD (002594.SZ) climbed 1.8% after opening higher. Lens Technology (300433.SZ) gapped lower and slumped 12.7% at midday. Its 1Q revenue declined 17.13% YoY to RMB14.14 billion, and it recorded a net loss attributable to shareholders of RMB150 million. Computing power-related stocks were mixed, with Litong Electronic (603629.SH) hitting limit-up, while CEM Instruments (002980.SZ) dropped 7.6%. (ta/da) 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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