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<A Shrs> Shanghai and Shenzhen Indices Rise 0.5% to 1.1%; Nonferrous Metals Sector Gains; CHINA LIFE (601628.SH) Up Over 4%
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Markets are monitoring developments in the Middle East. The RMB central parity against USD was set at 6.8109, up 41 bps MoM. The PBOC conducted RMB393 billion of 7-day reverse repos today (12th) at an unchanged rate of 1.4%; with RMB215 billion maturing, resulting in a net injection of RMB178 billion for the day. The three major A-share indices opened 0.8% to 2.9% higher, then fluctuated upward, closing the day up 0.5% to 1.1%. The Shanghai Composite Index reclaimed the 4,000 level at the open, rising 44 points or 1.12% to close at 4,031, with turnover of RMB1.54 trillion. The Shenzhen Component Index rose 111 points or 0.75% to close at 14,963, with turnover of RMB1.68 trillion. The ChiNext Index gained 19 points or 0.5% to close at 3,830, with turnover of RMB805.74 billion. Banking stocks advanced, with ICBC (601398.SH) up 1.6% and CCB (601939.SH) up 0.9%. Insurers outperformed, as CHINA LIFE (601628.SH) climbed 4.3% and CHINA PACIFIC INSURANCE (601601.SH) rose 2.5%. In addition, BYD Company (002594.SZ) gained 2%. CONTEMPORARY AMPEREX (300750.SZ) rose 3.3%, with the company expecting overall business to grow 5x to 10x over the next five to ten years. Among chip stocks, SMIC (688981.SH) fell nearly 2%, while HUA HONG GRACE (688347.SH) dropped 1.4%. AI chipmaker CAMBRICON (688256.SH) rose 1.7%. Domestic GPU makers METAX (688802.SH) and MOORE THREADS (688795.SH) declined 2.4% and 2.1%, respectively. LQKJ (688008.SH) slipped 1.7%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) fell 1.4%. Memory chipmaker GIGADEVICE (603986.SH) edged down 0.4%. "New IPO King" SEMIGHT INSTRUMENTS (688808.SH) dropped 5.6%. KWEICHOW MOUTAI (600519.SH) elected Chen Hua as chairman and appointed several senior executives; its share price rose 1%. BOE A (000725.SZ) fell 4.5% after being included by the US Department of Defense on the "Chinese Military Companies" list. The company clarified that it is neither a Chinese military enterprise nor part of China’s military-civil fusion in the defense industry, stating there is no legitimate reason for its inclusion on the list. The nonferrous metals sector performed strongly, with CMOC (603993.SH) and JIN MOLYBDENUM (601958.SH) hitting the daily limit-up, while YUNNAN COPPER (000878.SZ) surged 7.4%. (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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