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Shanghai & Shenzhen A-shares Indices Fall 0.4% to 2.7% for the Day; Banks and Insurers Buck Trend, CHINA LIFE (601628.SH) Up Over 4%
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Tensions in Iran escalated after US President Donald Trump accused Iran of shooting down a US helicopter over the Strait of Hormuz and vowed to respond, with the United States subsequently launching strikes against Iran. The RMB central parity against the USD was set at 6.8130, strengthened by 17 bps MoM. The People's Bank of China conducted RMB159 billion of seven-day reverse repos today (10th) at an unchanged rate of 1.4%. With no reverse repos maturing, the single-day net injection amounted to RMB159 billion. Mainland China's May CPI rose 1.2% YoY, slightly below expectations. May PPI increased 3.9% YoY, in line with forecasts. The three major A-share indices opened down 0.6% to 1.6% this morning and remained weak throughout the session, closing down 0.4% to 2.7%. The Shanghai Composite Index fell below the 4,000-point level at the open and closed down 16 points, or 0.42%, at 3,993, with turnover of RMB1.23 trillion. The Shenzhen Component Index dropped 314 points, or 2.06%, to 14,954, with turnover of RMB1.39 trillion. The ChiNext Index declined 106 points, or 2.7%, to 3,854, with turnover of RMB648.812 billion. Banking stocks outperformed, with ICBC (601398.SH) rising nearly 2%. CCB (601939.SH) once climbed more than 2% to hit another record high before closing up 1.3%. Among insurers, CHINA LIFE (601628.SH) surged 4.5%, while CHINA PACIFIC INSURANCE (601601.SH) gained 3%. Meanwhile, BYD Company (002594.SZ) fell 1.7%, stating that its inclusion on a list of Chinese military-related enterprises was unjustified and would not affect normal operations. CONTEMPORARY AMPEREX (300750.SZ) dropped 2.8%. Chip stocks were broadly lower. SMIC (688981.SH) slipped 1.5%, HUA HONG GRACE (688347.SH) fell 2.5%, and AI chipmaker CAMBRICON (688256.SH) declined 3.1%. Domestic GPU makers METAX (688802.SH) and MOORE THREADS (688795.SH) dropped 1.6% and 1.3%, respectively. LQKJ (688008.SH) fell 2.3%. Optical fibre producer YANGTZE OPTICAL FIBRE (601869.SH) tumbled 6.5%, while memory chipmaker GIGADEVICE (603986.SH) slid 3.9%. (jl/u) Auto-translated by AI This article was automatically translated by AI, the original language 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. More Details
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