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Shanghai and Shenzhen Markets Open 0.3%-0.4% Lower; Mainland Banks and Oil Stocks Firm
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Amid continued tensions between the US and Iran, the RMB central parity against the USD was set at 6.8150, down 20 bps from the previous day. The PBOC conducted RMB188.5 billion of 7-day reverse repo operations today (11th), with the rate unchanged at 1.4%. With no reverse repos maturing, the single-day net injection amounted to RMB188.5 billion. The three major A-share indices opened 0.3% to 0.4% lower. The Shanghai Composite Index opened down 13 points, or 0.34%, at 3,979. The Shenzhen Component Index opened down 64 points, or 0.43%, at 14,889. The ChiNext Index opened down 15 points, or 0.4%, at 3,839. Among mainland bank stocks, ICBC (601398.SH) opened up 0.3%, while CCB (601939.SH) opened up 0.1%. In the insurance sector, CHINA LIFE (601628.SH) opened down 0.2% and CHINA PACIFIC INSURANCE (601601.SH) opened down 0.1%. In addition, BYD Company (002594.SZ) opened down 0.2%, while CONTEMPORARY AMPEREX (300750.SZ) opened down 0.4%. Chip stocks were mixed. SMIC (688981.SH) opened down 1.1%, while HUA HONG GRACE (688347.SH) opened up 0.6%. AI chipmaker CAMBRICON (688256.SH) opened down 0.7%. Domestic GPU makers METAX (688802.SH) and MOORE THREADS (688795.SH) opened down 2% and 1.3%, respectively. LQKJ (688008.SH) opened flat. Optical fibre producer YANGTZE OPTICAL FIBRE (601869.SH) opened down 2%. Memory chipmaker GIGADEVICE (603986.SH) opened down 0.1%. With international oil prices rising, COSL (601808.SH) opened up 1.2%, while PETROCHINA (601857.SH) opened up 1.4%. (jl/a) Auto-translated by AI This article was automatically translated by AI, the original language 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. More Details
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