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Shanghai and Shenzhen A-share Indices Open 0.3% to 1.2% Higher; CPO Concept Stocks Perform Well; LQKJ (688008.SH) Surges Over 8%
Chinese and US leaders will meet today (14th). The RMB midpoint against USD was set at 6.8401, hitting a new high since March 24, 2023, up 30 bps MoM. The PBOC conducted RMB500 mil...
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Shanghai and Shenzhen A-share Indices Open 0.3% to 1.2% Higher; CPO Concept Stocks Perform Well; LQKJ (688008.SH) Surges Over 8%
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Chinese and US leaders will meet today (14th). The RMB midpoint against USD was set at 6.8401, hitting a new high since March 24, 2023, up 30 bps MoM. The PBOC conducted RMB500 million seven-day reverse repos in the open market today, with the operation rate unchanged at 1.4%. Meanwhile, RMB27 billion of reverse repos matured, resulting in a net drain of RMB26.5 billion for the day. The three major A-share indices opened 0.3% to 1.2% higher.

The Shanghai Composite Index opened up 13 points, or 0.3%, at 4,256. The Shenzhen Component Index opened up 112 points, or 0.7%, at 16,202. The ChiNext Index opened up 49 points, or 1.2%, at 4,087.

Related NewsImports YoY for Apr in China is 25.3%, lower than the previous value of 27.8%. The forecast was 15.2%.
Among financials, ICBC (601398.SH)  -0.060 (-0.822%)   opened flat, while CCB (601939.SH)  +0.080 (+0.821%)   edged down 0.1%. CHINA PACIFIC INSURANCE (601601.SH)  -0.640 (-1.819%)   opened 0.4% lower. In addition, BYD Company (002594.SZ)  -2.430 (-2.461%)   opened 0.4% higher, and CONTEMPORARY AMPEREX (300750.SZ)  -3.400 (-0.796%)   opened 3.5% higher.

In chip stocks, SMIC (688981.SH)  +1.120 (+0.950%)   and HUA HONG (688347.SH)  -7.770 (-4.922%)   opened up 0.1% and 1.7%, respectively. AI chipmaker CAMBRICON (688256.SH)  -51.580 (-4.092%)   opened 0.2% higher. Domestic GPU makers METAX (688802.SH)  -25.530 (-3.446%)   and MOORE THREADS (688795.SH)  -17.650 (-2.588%)   opened up 0.8% and 1.1%, respectively. LQKJ (688008.SH)  -17.100 (-6.451%)   opened 8.2% higher. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH)  -30.250 (-7.475%)   opened nearly 1% higher.

CPO concept stock K-HIRAGAWA TECHNOLOGY (603052.SH)  -1.910 (-1.655%)   hit the daily upper limit for three consecutive sessions. (jl/a)(A Shares quote is delayed for at least 15 mins.)

Related NewsPPI YoY for Apr in China is 2.8%, higher than the previous value of 0.5%. The forecast was 1.5%.

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