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Shanghai and Shenzhen Markets Mixed at Midday; ChiNext Index Hits Fresh Nearly 11-Year High; Kweichow Moutai (600519.SH) Slumps Over 4%, CATL (300750.SZ) Softens
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The RMB central parity rate against the USD was set at 6.8622, down 6 bps MoM. The People's Bank of China conducted RMB500 million seven-day reverse repo operations in the open market today (17th), with the operation rate unchanged at 1.4%. RMB2 billion of reverse repos matured today, resulting in a single-day net withdrawal of RMB1.5 billion. The three major A-share indices opened mixed. The ChiNext Index remained strong, hitting a fresh nearly 11-year high. The Shanghai Composite closed at 4,043 at midday, down 12 points or 0.3%, with turnover of RMB654.67 billion; the Shenzhen Component Index closed at 14,845 at midday, up 49 points or 0.3%, with turnover of RMB925.85 billion; the ChiNext Index closed at 3,655 at midday, up 29 points or 0.8%, with turnover of RMB442.75 billion. Among bank stocks, ICBC (601398.SH) was flat at RMB7.46, while China Construction Bank (601939.SH) fell 0.1%. In addition, CATL (300750.SZ) retreated 2.5%, and BYD (002594.SZ) declined 2%. Property stocks advanced, with Beijing Capital Development (600683.SH) surging to the daily limit. Nanshan Holdings (002314.SZ) and Tibet Urban Development (600773.SH) rose 3.4% and 8.2%, respectively. Catering and tourism stocks pulled back, with SSAW Boutique Hotel (301073.SZ) and Huatian Hotel (000428.SZ) dropping 5.7% and 4.5%, respectively. Kweichow Moutai (600519.SH) fell 4.2% after reporting 2025 net profit of RMB82.32 billion, down 4.53% YoY. Chip stocks were mixed. SMIC (688981.SH) gained 1.2%, while Hua Hong Semiconductor (688347.SH) slipped 0.3%. AI chipmaker Cambricon (688256.SH) rose 2.3%. Domestic GPU firm Moore Threads (688802.SH) declined 2.3%. Zhongji Innolight (300308.SZ) climbed 3.4% after its 1Q25 net profit surged 262% YoY to RMB5.735 billion. (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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