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Shanghai and Shenzhen A-Share Indices Open 0.1% to 0.3% Lower; GIGADEVICE (603986.SH) Down Over 3%
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The RMB central parity rate against the USD was set at 6.8240, up 51 bps MoM. Today (28th), the People's Bank of China conducted RMB101.3 billion in seven-day reverse repos via open market operations, with the operation rate unchanged at 1.4%. Meanwhile, RMB100 billion of reverse repos matured, resulting in a net daily injection of RMB1.3 billion.

The three major A-share indices opened 0.1% to 0.3% lower.

The Shanghai Composite Index opened down 13 points, or 0.33%, at 4,080. The Shenzhen Component Index opened down 45 points, or 0.29%, at 15,691. The ChiNext Index opened down 3 points, or 0.09%, at 4,042.

Among financials, ICBC (601398.SH) opened down 0.1%, while CCB (601939.SH) opened down 0.2%. In the insurance sector, CHINA LIFE (601628.SH) opened down 0.1%, and CHINA PACIFIC INSURANCE (601601.SH) opened down 0.1%. In addition, BYD Company (002594.SZ) opened flat. CONTEMPORARY AMPEREX (300750.SZ) opened up 1.3%.

Among chip stocks, SMIC (688981.SH) and HUA HONG (688347.SH) opened down 0.2% and up nearly 1%, respectively. AI chip maker CAMBRICON (688256.SH) opened up 1.6%. Domestic GPU makers METAX (688802.SH) and MOORE THREADS (688795.SH) opened up 0.7% and down 0.6%, respectively. LQKJ (688008.SH) opened down 2.1%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) opened down 1.5%. Memory chip maker GIGADEVICE (603986.SH) opened down 3.7%. (jl/a)
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