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A-Share Three Major Indices Rise 0.1% to Nearly 2%; HUA HONG (688347.SH) Surges Over 15% to Record High; ZTE (000063.SZ) Hits Limit Up
The RMB central parity against USD was set at 6.8240, strengthened by 51 bps MoM. The People's Bank of China conducted RMB101.3 billion seven-day reverse repos in the open market t...
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A-Share Three Major Indices Rise 0.1% to Nearly 2%; HUA HONG (688347.SH) Surges Over 15% to Record High; ZTE (000063.SZ) Hits Limit Up
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The RMB central parity against USD was set at 6.8240, strengthened by 51 bps MoM. The People's Bank of China conducted RMB101.3 billion seven-day reverse repos in the open market today (28th), with the operation rate unchanged at 1.4%. Meanwhile, RMB100 billion of reverse repos matured, resulting in a net injection of RMB1.3 billion for the day. The three major A-share indices opened down 0.1% to 0.3%, rebounded in the afternoon, and closed up 0.1% to nearly 2% for the day.

The Shanghai Composite Index closed at 4,098, up 4 points or 0.12%, with turnover of RMB1.36 trillion. The Shenzhen Component Index rose 125 points or 0.8% to close at 15,861, with turnover of RMB1.61 trillion. The ChiNext Index gained 79 points or 1.96% to close at 4,125, with turnover of RMB768.2 billion.

Bank stocks declined, with ICBC (601398.SH)  +0.180 (+2.557%)   down 1.1% and CCB (601939.SH)  -0.130 (-1.288%)   down 1.3%. Insurance stocks were also weaker, as CHINA LIFE (601628.SH)  +0.440 (+1.318%)   fell 0.2% and CHINA PACIFIC INSURANCE (601601.SH)  +0.160 (+0.500%)   dropped 1.9%. Elsewhere, BYD Company (002594.SZ)  +0.300 (+0.313%)   rose 0.7% amid market talk that its self-developed chip may be officially unveiled tonight. CONTEMPORARY AMPEREX (300750.SZ)  +8.320 (+2.002%)   edged up 0.2% after reports that its subsidiary Xinnengan is in talks with Zhangxue Motorcycle on cooperation.

Changxin Technology's STAR Market IPO was approved by the Shanghai Stock Exchange Listing Committee, boosting chip stocks. SMIC (688981.SH)  -13.790 (-8.972%)   hit an intraday record high of RMB159.05 and closed up 5.1% at RMB153.7. HUA HONG (688347.SH)  -12.970 (-5.195%)   surged 15.8% to close at RMB249.65, marking a new high. AI chip maker CAMBRICON (688256.SH)  -81.500 (-5.857%)   gained 3.8%. Domestic GPU makers METAX (688802.SH)  -23.680 (-3.384%)   and MOORE THREADS (688795.SH)  -37.380 (-5.494%)   rose 0.7% and nearly 1%, respectively. LQKJ (688008.SH)  -7.980 (-3.058%)   fell 1.7%. Optical fibre producer YANGTZE OPTICAL FIBRE (601869.SH)  +32.260 (+8.706%)   advanced 1.2%. Memory chip maker GIGADEVICE (603986.SH)  -15.990 (-3.311%)   slid 6.1%.

ZTE (000063.SZ)  -1.580 (-4.125%)   hit limit up after the company conducted its first A-share buyback on Wednesday, involving RMB670 million.

"New stock king" SEMIGHT INSTRUMENTS (688808.SH)  -142.570 (-7.655%)   climbed 5.4% to close at RMB1,862.52. Meanwhile, KWEICHOW MOUTAI (600519.SH)  +50.020 (+3.920%)   fell 2.1% to RMB1,275.98. (jl/u)(A Shares quote is delayed for at least 15 mins.)

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