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Shanghai and Shenzhen Indices Gain 1.3% to 1.7% at Midday; Nonferrous Metals Sector Strengthens
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Markets are watching developments in the Middle East. US President Donald Trump announced the cancellation of a previously planned attack on Iran, stating that an agreement could be signed as early as this weekend. However, a spokesperson for Iran's foreign ministry said claims that the two sides have reached a final agreement are merely speculation, and Tehran has not made any final decision on any deal. The RMB central parity against the USD was set at 6.8109, strengthened by 41 bps MoM. The People's Bank of China conducted RMB393 billion of 7-day reverse repos today (12th), with the operation rate unchanged at 1.4%. With RMB215 billion of reverse repos maturing, the single-day net injection amounted to RMB178 billion. The three major A-share indices opened 0.8% to 2.9% higher and then fluctuated upward, rising 1.3% to 1.7% at midday. The Shanghai Composite Index reclaimed the 4,000 level at the open. It closed the morning session up 62 points or 1.56% at 4,049, with turnover of RMB980.32 billion. The Shenzhen Component Index also recovered the 15,000 level at the open, rising 251 points or 1.69% to 15,103, with turnover of RMB1.08 trillion. The ChiNext Index gained 48 points or 1.27% to 3,859, with turnover of RMB517.021 billion. Among financials, ICBC (601398.SH) was flat, while CCB (601939.SH) edged up 0.1%. Insurers advanced, with CHINA LIFE (601628.SH) up 4.3% and CHINA PACIFIC INSURANCE (601601.SH) up 2.9%. BYD Company (002594.SZ) rose 1.2%. CONTEMPORARY AMPEREX (300750.SZ) gained 3.4% after the company projected overall business growth of 5x to 10x over the next five to ten years. In the chip sector, SMIC (688981.SH) slipped 0.2%, while HUA HONG GRACE (688347.SH) rose 0.8%. AI chipmaker CAMBRICON (688256.SH) fell 1.4%. Domestic GPU makers METAX (688802.SH) and MOORE THREADS (688795.SH) climbed 1.7% and 2.3%, respectively. LQKJ (688008.SH) added 0.7%. YANGTZE OPTICAL FIBRE (601869.SH) rose 0.8%. Memory chipmaker GIGADEVICE (603986.SH) gained 1.4%. "New stock king" SEMIGHT INSTRUMENTS (688808.SH) tumbled 6.9%. KWEICHOW MOUTAI (600519.SH) rose 0.2% after electing Chen Hua as chairman and appointing several senior executives. BOE A (000725.SZ) fell 1.2% after being included by the US Department of Defense on its "Chinese Military Companies List". The company clarified that it is neither a Chinese military enterprise nor a military-civil fusion enterprise within China's defense industry, and stated that there is no justified reason for its inclusion on the list. The nonferrous metals sector performed strongly, with multiple stocks including CMOC (603993.SH), JIN MOLYBDENUM (601958.SH) and YUNNAN COPPER (000878.SZ) hitting the daily limit. 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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