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Shanghai and Shenzhen Indices Gain 1.9%-4.8% at Midday; Insurers, Airlines and Gold Miners Rally, Oil and Gas Stocks Slide
The US and Iran announced a two-week ceasefire. The RMB central parity against the USD was set at 6.8680, up 174 bps MoM.Today (8th), the People's Bank of China conducted RMB500 mi...
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Shanghai and Shenzhen Indices Gain 1.9%-4.8% at Midday; Insurers, Airlines and Gold Miners Rally, Oil and Gas Stocks Slide
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The US and Iran announced a two-week ceasefire. The RMB central parity against the USD was set at 6.8680, up 174 bps MoM.

Today (8th), the People's Bank of China conducted RMB500 million of seven-day reverse repos in the open market, with the operation rate unchanged at 1.4%. RMB500 million of reverse repos matured today. Meanwhile, RMB1.1 trillion of 90-day outright reverse repos matured on the same day.

Related NewsInflation Rate MoM for Mar in China is -0.7%, lower than the previous value of 1.0%. The forecast was -0.2%.
The three major A-share indices opened higher and extended gains. The Shanghai Composite closed at 3,964 at midday, up 74 points or 1.9%, with turnover of RMB680.1 billion; the Shenzhen Component Index closed at 13,919, up 518 points or 3.9%, with turnover of RMB862.6 billion; and the ChiNext Index closed at 3,312, up 151 points or 4.8%, with turnover of RMB412.5 billion.

Banking stocks were mixed, with INDUSTRIAL AND COMMERCIAL BANK OF CHINA (601398.SH)  -0.020 (-0.273%)   and CHINA CONSTRUCTION BANK (601939.SH)  -0.030 (-0.324%)   down 1.8% and 0.1%, respectively. Insurers advanced, with PING AN INSURANCE (601318.SH)  +0.080 (+0.136%)   and CHINA LIFE (601628.SH)  +0.820 (+2.219%)   each rising 4%. CPIC (601601.SH)  +0.340 (+0.888%)   and NEW CHINA LIFE (601336.SH)  +1.160 (+1.897%)   gained 6% and 5%, respectively. In addition, CATL (300750.SZ)  +26.010 (+6.669%)   rose 2.7%, while BYD (002594.SZ)  +2.640 (+2.666%)   added 2%. EVE ENERGY (300014.SZ)  +3.970 (+6.097%)   surged 6% after forecasting 1Q26 net profit to increase 25%-35% YoY. The company plans to invest RMB11 billion to expand energy storage battery capacity.

Leading property developers were broadly firmer. GEMDALE (600383.SH)  +0.040 (+1.471%)   rose 3%, despite reporting a wider 2025 net loss of RMB13.281 billion. POLY DEVELOPMENTS (600048.SH)  +0.030 (+0.539%)   , Vanke A (000002.SZ)  +0.020 (+0.517%)   and GREENLAND (600606.SH)  +0.020 (+1.370%)   climbed 2.7%-3.2%.

Related NewsVehicle Sales YoY for March in China is -0.6%, higher than the previous value of -15.4%.
International oil prices retreated sharply. PETROCHINA (601857.SH)  -0.110 (-0.909%)   and CNOOC (600938.SH)  -0.210 (-0.548%)   fell 4.7% and 6.9%, respectively. Among oil and gas names, ZHONGMAN PETROLEUM (603619.SH)  +0.160 (+0.449%)   plunged by the daily limit, while SHANDONG MOLONG (002490.SZ)  -0.230 (-2.434%)   dropped 6.7%.

International gold prices rebounded, lifting gold-related stocks. ZHAOJIN GOLD (000506.SZ)  -1.760 (-8.939%)   hit the daily limit up. SHANDONG GOLD (600547.SH)  -1.070 (-2.593%)   , ZHONGJIN GOLD (600489.SH)  -0.360 (-1.296%)   , ZIJIN MINING (601899.SH)  -0.150 (-0.442%)   and CHIFENG GOLD (600988.SH)  -0.770 (-1.679%)   rose 6.7%-8.2%.

Airline stocks strengthened, with CHINA EASTERN AIRLINES (600115.SH)  -0.160 (-3.471%)   hitting the daily limit up. AIR CHINA (601111.SH)  -0.040 (-0.571%)   and CHINA SOUTHERN AIRLINES (600029.SH)  -0.020 (-0.344%)   gained 6.6% and 7.5%, respectively.

Related NewsInflation Rate YoY for Mar in China is 1.0%, lower than the previous value of 1.3%. The forecast was 1.2%.
Chipmakers advanced. SMIC (688981.SH)  +1.290 (+1.294%)   A-shares rose 4.6%, while HUA HONG (688347.SH)  +1.990 (+1.664%)   A-shares gained 6.4%. AI chipmaker CAMBRICON (688256.SH)  +12.700 (+1.060%)   added 3.9%. Domestic GPU players MOORE THREADS (688795.SH)  -4.020 (-0.681%)   and MUXI (688802.SH)  +2.270 (+0.372%)   rose 1.8% and 2.4%, respectively. Memory chipmaker MONTAGE TECHNOLOGY (688008.SH)  +4.360 (+3.133%)   opened higher and climbed 6.7%.

Innovative drug concept stocks generally retreated. JINYAOTAI (600488.SH)  -0.660 (-9.322%)   , WANBANGDE (002082.SZ)  -2.460 (-7.626%)   , PEKING UNIVERSITY HEALTHCARE (000788.SZ)  -0.400 (-5.935%)   and ALKEM LAB (002940.SZ)  -0.180 (-0.577%)   fell 3.2%-5.6%, while MENOVO (603538.SH)  +4.090 (+8.989%)   hit the daily limit up. (ta/u)(A Shares quote is delayed for at least 15 mins.)



Related NewsPPI YoY for Mar in China is 0.5%, higher than the previous value of -0.9%. The forecast was 0.4%.
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.

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