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Shanghai and Shenzhen Markets: Three Major A-Share Indices Rise 0.9% to 2.8% for the Day, GIGADEVICE (603986.SH) Surges Over 8% to Record High
The State Council executive meeting studied measures to advance the development of a unified national market. In addition, the National Development and Reform Commission is plannin...
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Shanghai and Shenzhen Markets: Three Major A-Share Indices Rise 0.9% to 2.8% for the Day, GIGADEVICE (603986.SH) Surges Over 8% to Record High
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The State Council executive meeting studied measures to advance the development of a unified national market. In addition, the National Development and Reform Commission is planning to roll out supporting documents to accelerate the implementation of AI applications. The RMB central parity against USD was set at 6.8373, lowered by 24 bps MoM. The Peoples Bank of China conducted RMB153 billion of seven-day reverse repo operations in the open market today (22nd), with the operation rate unchanged at 1.4%. With RMB0.5 billion maturing, the single-day net injection amounted to RMB152.5 billion. The three major A-share indices opened 0.5% to 1.2% higher, with gains expanding in the afternoon. They closed up 0.9% to 2.8% for the day.

The Shanghai Composite Index closed at 4,112 points, up 35 points or 0.9%, with turnover of RMB1.29 trillion. The Shenzhen Component Index rose 350 points or 2.3% to close at 15,597 points, with turnover of RMB1.62 trillion. The ChiNext Index gained 108 points or 2.8% to close at 3,938 points, with turnover of RMB787.397 billion.

Among financials, ICBC (601398.SH)  +0.180 (+2.557%)   rose 0.4% and CCB (601939.SH)  -0.130 (-1.288%)   gained 0.5%. Insurers CHINA LIFE (601628.SH)  +0.440 (+1.318%)   fell 0.7% and CHINA PACIFIC INSURANCE (601601.SH)  +0.160 (+0.500%)   slipped 0.5%. BYD Company (002594.SZ)  +0.300 (+0.313%)   edged up 0.3% after denying plans to acquire Maserati. CONTEMPORARY AMPEREX (300750.SZ)  +8.320 (+2.002%)   dipped 0.1%.

A-share "new stock king" SEMIGHT INSTRUMENTS (688808.SH)  -142.570 (-7.655%)   surged 14.7% to close at RMB1,755, with turnover of RMB4.007 billion and total market capitalization of RMB180.18 billion. KWEICHOW MOUTAI (600519.SH)  +50.020 (+3.920%)   fell 1.6% to RMB1,290.2.

In chip stocks, SMIC (688981.SH)  -13.790 (-8.972%)   and HUA HONG (688347.SH)  -12.970 (-5.195%)   climbed 3.2% and 5.9%, respectively. SMIC announced that its proposed share issuance to acquire a 49% stake in SMIC Northern Integrated Circuit Manufacturing received approval for registration from the China Securities Regulatory Commission.

AI chipmaker CAMBRICON (688256.SH)  -81.500 (-5.857%)   slipped 0.4%. Domestic GPU names METAX (688802.SH)  -23.680 (-3.384%)   and MOORE THREADS (688795.SH)  -37.380 (-5.494%)   rose 0.7% and fell 0.1%, respectively. LQKJ (688008.SH)  -7.980 (-3.058%)   advanced 3.7%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH)  +32.260 (+8.706%)   gained 3.4%. Memory chipmaker GIGADEVICE (603986.SH)  -15.990 (-3.311%)   surged 8.5% to a record high.

Computing power hardware stocks performed strongly, with SF DIAMOND (300179.SZ)  +2.120 (+4.915%)   and HUANGHE WHIRLWIND (600172.SH)  -0.520 (-3.562%)   hitting the daily limit-up. (jl/u)(A Shares quote is delayed for at least 15 mins.)

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