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<A Shrs> Three Major A-share Indices Rebound in Afternoon; SHCI Closes Above 4,100 with Turnover Support; China Unicom Down Over 3% Post-results; Semiconductor-related Stocks Rally
The central parity rate of RMB against USD was set at 6.8635, down 41 bps MoM. The Peoples Bank of China conducted RMB6 billion seven-day reverse repos in the open market today (2...
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<A Shrs> Three Major A-share Indices Rebound in Afternoon; SHCI Closes Above 4,100 with Turnover Support; China Unicom Down Over 3% Post-results; Semiconductor-related Stocks Rally
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The central parity rate of RMB against USD was set at 6.8635, down 41 bps MoM. The Peoples Bank of China conducted RMB6 billion seven-day reverse repos in the open market today (22nd), with the operation rate unchanged at 1.4%. With RMB500 million of reverse repos maturing today, the net liquidity injection for the day was RMB5.5 billion.

The three major A-share indices opened lower in the morning but rebounded in the afternoon. The SHCI regained the 4,100 level, while the ChiNext Index outperformed with a gain of over 1%. The SHCI closed near the days peak at 4,106, up 21 points or 0.5%, with turnover of RMB1.09 trillion. The SZSE Component Index closed near the high at 15,177, up 195 points or 1.3%, with turnover of RMB1.47 trillion. The ChiNext Index closed near the high at 3,752, up 63 points or 1.7%, with turnover of RMB691 billion.

Mainland banking stocks softened. Industrial and Commercial Bank of China (601398.SH)  -0.080 (-1.090%)   and China Construction Bank (601939.SH)  -0.180 (-1.768%)   fell 1.3% and 0.6%, respectively. Contemporary Amperex Technology (300750.SZ)  -2.290 (-0.528%)   launched a new battery, but its shares slipped 1%. BYD (002594.SZ)  -1.890 (-1.953%)   closed flat.

China Unicom (600050.SH)  -0.020 (-0.452%)   declined 3.4% after its 1Q26 net profit fell 17.6% YoY. China Mobile (600941.SH)  -0.460 (-0.458%)   edged down 0.9%.

Selected brokerage stocks rebounded. Harbin Investment (600864.SH)  -0.020 (-0.359%)   surged 6.6%. Huatai Securities (601688.SH)  +0.350 (+1.881%)   , GF Securities (000776.SZ)  +0.220 (+1.159%)   and First Capital (002797.SZ)  -0.050 (-0.722%)   each rose over 2%.

Leading chipmakers stabilized. Semiconductor Manufacturing International Corporation (688981.SH)  +4.790 (+3.616%)   A-shares gained 0.4%. Hua Hong Semiconductor (688347.SH)  +13.280 (+5.863%)   A-shares rose 0.6%. AI chipmaker Cambricon (688256.SH)  +86.600 (+6.662%)   added 0.5%. Rockchip (603893.SH)  +2.780 (+1.584%)   climbed 2.3% after reporting 1Q26 net profit of RMB329 million, up 57.15% YoY.

Semiconductor-related stocks rallied. Luwei Optoelectronics (688401.SH)  -0.500 (-0.652%)   soared 19.6%. Helin Micro-Nano (688661.SH)  +22.520 (+20.004%)   jumped 15.3%. Leading IC (600641.SH)  +1.620 (+6.316%)   hit the daily limit-up.

Optical fiber-related stocks advanced. Yangtze Optical Fibre and Cable (601869.SH)  +40.870 (+9.999%)   rose 8%. Yongding (600105.SH)  +4.710 (+9.492%)   and Hangdian (603618.SH)  +1.770 (+4.190%)   both hit limit-up. In addition, Foxconn Industrial Internet (601138.SH)  +3.090 (+3.862%)   surged 8.9%, while Sharetronic Data Technology (300857.SZ)  +11.970 (+5.082%)   also hit limit-up.

Enlight Media (300251.SZ)  -0.150 (-1.209%)   slumped 7.8% after its 1Q26 net profit plunged 98.85% YoY. The company also proposed to sell no more than 4% of its stake in ArcVideo Technology (688039.SH)  -0.130 (-0.297%)   , which fell 1.2%. (ta/da)(A Shares quote is delayed for at least 15 mins.)

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