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<A Shrs> A-Share Three Major Indices Diverge at Midday; Domestic GPU Stocks Rise, Lithium Miners Retreat
Expectations for US-Iran peace talks have increased. The RMB central parity against the USD was set at 6.8582, adjusted up by 11 bps MoM, hitting a new high since March 24, 2023.Th...
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<A Shrs> A-Share Three Major Indices Diverge at Midday; Domestic GPU Stocks Rise, Lithium Miners Retreat
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Expectations for US-Iran peace talks have increased. The RMB central parity against the USD was set at 6.8582, adjusted up by 11 bps MoM, hitting a new high since March 24, 2023.

The Peoples Bank of China conducted RMB500 million seven-day reverse repo operations in the open market today (15th), with the operation rate unchanged at 1.4%. RMB500 million of reverse repos matured today. The PBOC will also conduct RMB500 billion of outright reverse repo operations today, while RMB600 billion of such operations mature today.

Related NewsGDP Growth Rate YoY for Q1 in China is 5.0%, higher than the previous value of 4.5%. The forecast was 4.8%.
The three major A-share indices opened higher. The ChiNext Index once reached its highest level in nearly 11 years since June 19, 2015, but subsequently pulled back markedly on profit-taking at high levels. The Shenzhen Component Index and ChiNext Index both turned lower by midday, while the Shanghai Composite Index rose and stood firm above the 4,000 level. At midday, the Shanghai Composite closed at 4,041 points, up 14 points or 0.4%, with turnover of RMB672.3 billion; the Shenzhen Component Index closed at 14,603 points, down 36 points or 0.3%, with turnover of RMB911.8 billion; the ChiNext Index closed at 3,550 points, down 8 points or 0.2%, with turnover of RMB417.25 billion.

Mainland banking stocks were broadly firmer. Industrial and Commercial Bank of China (601398.SH)  +0.050 (+0.661%)   and China Construction Bank (601939.SH)  +0.120 (+1.233%)   rose 0.3% and 0.9%, respectively. In addition, Contemporary Amperex Technology (300750.SZ)  +15.100 (+3.491%)   edged up 0.1%, while BYD (002594.SZ)  -1.380 (-1.341%)   was flat.

International oil prices fell sharply. CNOOC (600938.SH)  +0.280 (+0.753%)   , PetroChina (601857.SH)  -0.010 (-0.087%)   and Sinopec (600028.SH)  -0.030 (-0.542%)   declined 1.2% to 2.4%. Among oil and gas stocks, Zhongman Petroleum (603619.SH)  -0.930 (-2.798%)   and Shandong Molong (002490.SZ)  +0.170 (+1.914%)   dropped 3.4% and 4%, respectively.

Related NewsLuckin Coffee (LKNCY.US) to Launch Bottled Ready-to-Drink Coffee in Late Apr Priced at RMB6-7, Lower Than Starbucks
Chip stocks advanced. SMIC (688981.SH)  -0.500 (-0.463%)   A-shares gained 3.8%, while Hua Hong Semiconductor (688347.SH)  -2.190 (-1.675%)   A-shares rose 3.7%. AI chip maker Cambricon (688256.SH)  -48.200 (-3.497%)   climbed 4.8%. Domestic GPU stocks MetaX (688802.SH)  -9.680 (-1.368%)   and Moore Threads (688795.SH)  -20.290 (-3.140%)   surged 13% and 6.5%, respectively.

Selected computing power-related stocks continued to rally. Lituo Electronics (603629.SH)  -6.090 (-5.677%)   jumped 9.2%, while CEM Test (002980.SZ)  +4.200 (+5.385%)   hit the daily limit up. Power grid equipment stocks strengthened, with Hualing Cable (001208.SZ)  -0.360 (-1.575%)   and Han Cable (002498.SZ)  -0.370 (-3.936%)   both hitting limit up.

Lithium mining stocks retreated. EVE Energy (300014.SZ)  +3.020 (+4.379%)   , Ganfeng Lithium (002460.SZ)  +0.650 (+0.786%)   and Tianqi Lithium (002466.SZ)  +3.890 (+5.822%)   fell 2.1% to 6.2%.

Related NewsRetail Sales YoY for Mar in China is 1.7%, lower than the previous value of 2.8%. The forecast was 2.3%.
Yankuang Energy (600188.SH)  +0.760 (+4.051%)   slipped 2% after the company proposed to acquire an 80% stake in the Red Hawk coal mine in Australia for USD2.4 billion. (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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