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Shanghai Composite Falls 0.5% at Midday; STAR 50 Rises 2% to Fresh High; SMIC (688981.SH) Surges Nearly 9%
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The PBOC kept the Loan Prime Rate (LPR) unchanged for the 12th consecutive month, with the one-year and five-year LPR at 3% and 3.5% respectively in May. The RMB central parity against USD was set at 6.8397, down 22 bps MoM. Today (20th), the PBOC conducted RMB50 billion of seven-day reverse repos in the open market at an unchanged rate of 1.4%. With RMB0.5 billion maturing, the single-day net injection amounted to RMB49.5 billion. Chinas three major A-share indices opened 0.4% to 0.5% lower and moved divergently in early trading. At midday, the Shanghai Composite Index fell 18 points, or 0.5%, to 4,150, with turnover of RMB886.764 billion. The Shenzhen Component Index declined 57 points, or 0.4%, to 15,512, with turnover of RMB1.02 trillion. The ChiNext Index edged up 2 points to 3,910, with turnover of RMB479.08 billion. The STAR 50 Index rose 2% to a fresh high. Among financials, ICBC (601398.SH) and CCB (601939.SH) fell 1.2% and 0.2% respectively. CHINA LIFE (601628.SH) declined 0.8%, while CHINA PACIFIC INSURANCE (601601.SH) dropped 1.3%. BYD Company (002594.SZ) slid 2.2%, whereas CONTEMPORARY AMPEREX (300750.SZ) gained 0.6%. A-share new stock king SEMIGHT INSTRUMENTS (688808.SH) surged 8.8% to RMB1,523.01, with turnover of RMB4.072 billion and a total market capitalization of RMB156.362 billion. KWEICHOW MOUTAI (600519.SH) fell 0.4% to RMB1,319.07, with turnover of RMB3.856 billion and a total market capitalization of RMB1.65 trillion. Chip stocks performed strongly. SMIC (688981.SH) jumped nearly 9%, while HUA HONG (688347.SH) climbed 10.9%. AI chipmaker CAMBRICON (688256.SH) rose 3.9%. Domestic GPU plays METAX (688802.SH) and MOORE THREADS (688795.SH) gained 4.8% and 1.4% respectively. LQKJ (688008.SH) advanced 3.2%. YANGTZE OPTICAL FIBRE (601869.SH) slipped 1.6%. Memory chipmaker GIGADEVICE (603986.SH) increased 8.5%. (jl/da) 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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