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<A Shrs> Shanghai Composite Reclaims 4,000 as Three Major A-share Indices Gain 1%2.4% for the Day; Property, Battery and Computing Power-related Stocks Advance
The offshore RMB appreciated to 6.8157 against the USD, hitting a new high since March 23, 2023, up about 40 bps intraday. The RMB central parity against the USD was set at 6.8593,...
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<A Shrs> Shanghai Composite Reclaims 4,000 as Three Major A-share Indices Gain 1%2.4% for the Day; Property, Battery and Computing Power-related Stocks Advance
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The offshore RMB appreciated to 6.8157 against the USD, hitting a new high since March 23, 2023, up about 40 bps intraday. The RMB central parity against the USD was set at 6.8593, adjusted stronger by 64 bps MoM.

Chinas newly added Aggregate Financing to the Real Economy (Flow) reached RMB5.23 trillion in March, while new RMB loans totaled RMB2.99 trillion. M2 grew 8.5% YoY, all below market expectations. The Peoples Bank of China conducted a RMB1 billion seven-day reverse repo operation in the open market today (14th), with the operation rate unchanged at 1.4%. With RMB500 million of reverse repos maturing today, the single-day net injection was RMB500 million.

Related NewsImports YoY for Mar in China is 27.8%, higher than the previous value of 19.8%. The forecast was 11.1%.
According to the General Administration of Customs, Chinas total imports and exports denominated in USD rose 12.7% YoY in March. Exports increased 2.5%, below the market expectation of 8.6% growth, while imports surged 27.8% YoY, above the expected 13.9% increase. The trade surplus of USD51.13 billion fell short of expectations.

The three major A-share indices opened higher and trended upward throughout the session. The Shanghai Composite Index reclaimed the 4,000 level, while the ChiNext Index outperformed with a gain of over 2%. The Shanghai Composite closed at 4,026, up 38 points or 1%, with turnover of RMB998.4 billion. The Shenzhen Component Index ended near the days high at 14,639, up 232 points or 1.6%, with turnover of RMB1.39 trillion. The ChiNext Index closed near the high at 3,558, up 82 points or 2.4%, with turnover of RMB655.85 billion.

Major mainland banks advanced, with ICBC (601398.SH)  +0.130 (+1.747%)   and CCB (601939.SH)  +0.320 (+3.401%)   rising 1.2% and 0.4%, respectively. CATL (300750.SZ)  -11.700 (-2.634%)   reversed losses to gain 0.9% amid market talk that it is considering a share placement in Hong Kong to raise up to USD5 billion. BYD (002594.SZ)  -0.870 (-0.838%)   slipped 0.4%. Battery stocks rallied in the afternoon, with Shandong Sacred Sun Power Sources (002580.SZ)  +2.420 (+7.914%)   and Haike New Energy (301292.SZ)  -1.100 (-1.188%)   both hitting the daily limit-up.

Related NewsExports YoY for Mar in China is 7.1%, lower than the previous value of 21.8%. The forecast was 8.3%.
Property stocks moved higher, with Nanshan Holdings (002314.SZ)  -0.100 (-3.690%)   hitting limit-up. Worldunion (002285.SZ)  -0.100 (-3.135%)   rose 5.4%. The China Index Academy stated that if the momentum in core-city property markets can be sustained in April, it will help improve market expectations. China Merchants Shekou (001979.SZ)  -0.150 (-1.695%)   , Poly Developments (600048.SH)  -0.130 (-2.142%)   , Vanke A (000002.SZ)  -0.030 (-0.758%)   , Greenland Holdings (600606.SH)  -0.010 (-0.676%)   and Gemdale (600383.SH)  -0.050 (-1.761%)   gained between 2.8% and 4.1%.

International oil prices fluctuated lower. Among the three oil majors, CNOOC (600938.SH)  -0.180 (-0.482%)   , PetroChina (601857.SH)  -0.050 (-0.434%)   and Sinopec (600028.SH)  -0.030 (-0.540%)   fell 0.9% to 1.3%. Oil and gas names Zhongman Petroleum (603619.SH)  -0.310 (-0.924%)   and Shandong Molong (002490.SZ)  +0.190 (+2.186%)   declined 3.2% and 4.6%, respectively.

Fertilizer stocks retreated, with Asia-Potash International (000893.SZ)  -1.310 (-2.409%)   and Liuhua (600423.SH)  +0.010 (+0.369%)   plunging 9.7% and 7.2%, respectively.

Related NewsRetail Sales YoY for Mar in China is 1.7%, lower than the previous value of 2.8%. The forecast was 2.3%.
Chipmakers advanced, with SMIC (688981.SH)  +2.730 (+2.594%)   A-shares up 0.9% and Hua Hong (688347.SH)  +6.140 (+4.927%)   A-shares rising 3%. AI chipmaker Cambricon (688256.SH)  +44.200 (+3.313%)   gained 1.8%. Domestic GPU players MetaX (688802.SH)  -13.590 (-1.885%)   and Moore Threads (688795.SH)  -10.420 (-1.587%)   edged up 0.6% and 0.7%, respectively. Memory chipmaker GigaDevice (603986.SH)  +1.580 (+0.547%)   jumped 6.8%.

Computing power-related stocks continued to surge, with Litong Electronics (603629.SH)  +1.840 (+1.745%)   , CEM Instruments (002980.SZ)  +4.880 (+6.674%)   and Dawei (002213.SZ)  -0.430 (-1.140%)   all hitting limit-up.

Software stock Kingsoft Office (688111.SH)  +2.100 (+0.848%)   opened sharply higher before trimming gains, ending up 6.3%. It is expected to record a 401.89% to 472.81% YoY increase in 1Q net profit. (ta/da)(A Shares quote is delayed for at least 15 mins.)

Related NewsFixed Asset Investment (YTD) YoY for Mar in China is 1.7%, lower than the previous value of 1.8%. The forecast was 1.9%.



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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