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Shanghai and Shenzhen A-Share Indices Rise 0.4% to 2.7% for the Day; YANGTZE OPTICAL FIBRE (601869.SH) Hits Limit Up
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Unitree Technology's IPO was approved in just 73 days. The RMB central parity against the USD was set at 6.8187, down 20 bps MoM. The PBOC conducted RMB200 million of seven-day reverse repos in the open market today (2nd), with the operation rate unchanged at 1.4%; meanwhile, RMB249 billion of reverse repos matured, resulting in a single-day net withdrawal of RMB248.8 billion. The three major A-share indices opened 0.1% to 0.9% higher and moved divergently before all turning positive in the afternoon, closing up 0.4% to 2.7% for the day.

The Shanghai Composite Index rose 17 points, or 0.43%, to close at 4,075, with turnover of RMB1.28 trillion. The Shenzhen Component Index gained 250 points, or 1.63%, to close at 15,591, with turnover of RMB1.51 trillion. The ChiNext Index surged 104 points, or 2.66%, to close at 4,055, with turnover of RMB714 billion.

Among financials, ICBC (601398.SH) rose 0.6%, while CCB (601939.SH) gained nearly 1%. CHINA LIFE (601628.SH) and CHINA PACIFIC INSURANCE (601601.SH) each fell 1%. BYD Company (002594.SZ) advanced 3.3%, with its May new energy vehicle sales up 0.26% YoY. CONTEMPORARY AMPEREX (300750.SZ) climbed 3.3%.

In semiconductors, SMIC (688981.SH) edged up 0.03%, while HUA HONG (688347.SH) rose 1.6%. AI chipmaker CAMBRICON (688256.SH) jumped 5%. Domestic GPU names METAX (688802.SH) and MOORE THREADS (688795.SH) gained 4.1% and 2.7%, respectively. LQKJ (688008.SH) added 2%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) hit limit up. Memory chip firm GIGADEVICE (603986.SH) rose 1.4%.

A-share "new stock king" SEMIGHT INSTRUMENTS (688808.SH) surged 14.2% to close at RMB1,860. KWEICHOW MOUTAI (600519.SH) slipped 0.2% to RMB1,307.22. (jl/u)
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