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Shanghai Composite Slips 4 pts; CAMBRICON Falls Over 2%; Mainland Bank Stocks Weak
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China's Total Retail Sales of Social Consumer Goods in May fell 0.6% YoY, while National Fixed Asset Investment declined 4.1% YoY, both missing expectations. Added Value of Industries Above Designated Scale rose 4.5% YoY, exceeding forecasts. Among 70 large and medium-sized cities, commercial residential property prices in first-tier cities increased MoM, while those in second- and third-tier cities declined. The central parity of RMB against USD was set at 6.8108, down 20 bps from the previous day. The People's Bank of China conducted RMB449.5 billion of seven-day reverse repo operations today (16th) at an unchanged rate of 1.4%. With RMB153 billion maturing today, the net daily injection totaled RMB296.5 billion. The three major A-share indices moved divergently. The Shanghai Composite Index closed down 4 pts, or 0.11%, at 4,091, with turnover of RMB1.37 trillion. The Shenzhen Component Index rose 144 pts, or 0.93%, to 15,675, with turnover of RMB1.7 trillion. The ChiNext Index gained 69 pts, or 1.72%, to 4,102, with turnover of RMB829.817 billion. Mainland bank stocks were under pressure, with ICBC (601398.SH) falling nearly 2% and CCB (601939.SH) dropping 2.1%. Insurers were also weaker, as CHINA LIFE (601628.SH) declined 1.3% and CHINA PACIFIC INSURANCE (601601.SH) fell 2.3%. In addition, BYD Company (002594.SZ) slipped 1.3%, while CONTEMPORARY AMPEREX (300750.SZ) rose 1.4%. Among chip stocks, SMIC (688981.SH) edged down 0.3%, while HUA HONG GRACE (688347.SH) added 0.1%. AI chipmaker CAMBRICON (688256.SH) fell 2.1%. Domestic GPU names METAX (688802.SH) and MOORE THREADS (688795.SH) rose 1.1% and 1.4%, respectively. LQKJ (688008.SH) gained 1.7%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) advanced 3.1%. Memory chip firm GIGADEVICE (603986.SH) climbed 2.9%. SERES (601127.SH) reportedly plans to launch multiple embodied intelligent robots this year, including bipedal, quadrupedal and wheeled models. Its shares rose 0.9%. ZHONGJI INNOLIGHT (300308.SZ) edged up 0.3%, with turnover of RMB29.092 billion. (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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