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Shanghai and Shenzhen Markets Open 1% to 3% Higher as US and Iran Announce Ceasefire; Gold Mining and Chip Shares Rise, Oil Stocks Retreat Sharply
The US and Iran have announced a two-week ceasefire. The RMB central parity against the USD was set at 6.8680, adjusted stronger by 174 bps MoM. The People's Bank of China conducte...
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Shanghai and Shenzhen Markets Open 1% to 3% Higher as US and Iran Announce Ceasefire; Gold Mining and Chip Shares Rise, Oil Stocks Retreat Sharply
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The US and Iran have announced a two-week ceasefire. The RMB central parity against the USD was set at 6.8680, adjusted stronger by 174 bps MoM. The People's Bank of China conducted RMB500 million of seven-day reverse repos in the open market today (8th), with the operation rate unchanged at 1.4%. RMB500 million of reverse repos matured today. In addition, RMB1.1 trillion of 90-day outright reverse repos matured on the same day.

The three major A-share indices opened higher. The Shanghai Composite opened at 3,930, up 40 points or 1%. The Shenzhen Component Index opened at 13,717, up 316 points or 2.4%. The ChiNext Index opened at 3,257, up 97 points or 3.1%.

Related NewsInflation Rate MoM for Mar in China is -0.7%, lower than the previous value of 1.0%. The forecast was -0.2%.
Among mainland bank stocks, ICBC (601398.SH)  -0.020 (-0.273%)   opened down 0.4%, while CCB (601939.SH)  -0.030 (-0.324%)   opened up 0.4%. CATL (300750.SZ)  +26.010 (+6.669%)   opened up 3.1%. BYD (002594.SZ)  +2.640 (+2.666%)   opened up 0.5%.

International oil prices retreated sharply. PetroChina (601857.SH)  -0.110 (-0.909%)   and CNOOC (600938.SH)  -0.210 (-0.548%)   opened down 6.5% and 8.2%, respectively. Among oil and gas stocks, Zhongman Petroleum (603619.SH)  +0.160 (+0.449%)   and Shandong Molong (002490.SZ)  -0.230 (-2.434%)   both opened limit down.

International gold prices rebounded, lifting gold-related stocks. Shandong Gold (600547.SH)  -1.070 (-2.593%)   , Zhongjin Gold (600489.SH)  -0.360 (-1.296%)   , Zhaojin Gold (000506.SZ)  -1.760 (-8.939%)   , Zijin Mining (601899.SH)  -0.150 (-0.442%)   and Chifeng Gold (600988.SH)  -0.770 (-1.679%)   opened 4.9% to 5.7% higher. CMOC (603993.SH)  -0.160 (-0.837%)   , which is involved in gold mining operations, opened up 5.1%.

Related NewsInflation Rate YoY for Mar in China is 1.0%, lower than the previous value of 1.3%. The forecast was 1.2%.
Chip stocks advanced. SMIC (688981.SH)  +1.290 (+1.294%)   A-shares opened up 3.6%. Hua Hong (688347.SH)  +1.990 (+1.664%)   A-shares opened up 4.9%. AI chip maker Cambricon (688256.SH)  +12.700 (+1.060%)   also opened up 3.6%. Domestic GPU makers Moore Threads (688802.SH)  +2.270 (+0.372%)   and MetaX (688795.SH)  -4.020 (-0.681%)   opened up 3% and 2.6%, respectively. Memory chip stock Montage Technology (688008.SH)  +4.360 (+3.133%)   opened up 4.5%. (ta/da)(A Shares quote is delayed for at least 15 mins.)



This article was automatically translated by AI, the Chinese 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.

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