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<A Shrs> A-Share Three Major Indices Close Mixed; SH Comp and SZ Comp Edge Up; Auto and Memory Chip Concept Stocks Rally; SMIC (688981.SH) Up 5%
US-Iran negotiations have fallen into a stalemate. The RMB central parity against the USD was set at 6.8579, up 95 bps MoM, marking a new high since March 24, 2023.The Peoples Ban...
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<A Shrs> A-Share Three Major Indices Close Mixed; SH Comp and SZ Comp Edge Up; Auto and Memory Chip Concept Stocks Rally; SMIC (688981.SH) Up 5%
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US-Iran negotiations have fallen into a stalemate. The RMB central parity against the USD was set at 6.8579, up 95 bps MoM, marking a new high since March 24, 2023.

The Peoples Bank of China (PBOC) conducted RMB218.5 billion of seven-day reverse repos in the open market today (27th), with the operation rate unchanged at 1.4%. With RMB0.5 billion of reverse repos maturing today, the single-day net injection was RMB218 billion. On the same day, RMB600 billion of Medium-term Lending Facility (MLF) funds matured, while the PBOC conducted RMB400 billion of one-year MLF operations, resulting in a net withdrawal of RMB200 billion in MLF funds.

In 1Q26, profits of industrial enterprises above designated scale in Mainland China rose 15.5% YoY, with March alone up 15.8% YoY. The three major A-share indices moved divergently. The Shanghai Composite Index closed at 4,086, up 6 points or 0.2%, with turnover of RMB1.14 trillion. The Shenzhen Component Index closed at 14,995, up 55 points or 0.4%, with turnover of RMB1.45 trillion. The ChiNext Index closed at 3,648, down 19 points or 0.5%, with turnover of RMB674.2 billion.

Major mainland banking stocks were under pressure. Industrial and Commercial Bank of China (601398.SH)  -0.060 (-0.797%)   and China Construction Bank (601939.SH)  +0.010 (+0.102%)   fell 0.9% and 0.6%, respectively. Ping An Bank (000001.SZ)  +0.060 (+0.524%)   rose 3.5% after reporting 1Q net profit of RMB14.523 billion, up 3% YoY. Bank of Ningbo (002142.SZ)  +0.300 (+0.902%)   gained 1.7%. ZTE (000063.SZ)  +0.410 (+1.139%)   opened lower but closed up 2.4%, although its 1Q net profit declined 46.58% YoY to RMB1.31 billion.

Leading automaker BYD (002594.SZ)  +3.920 (+3.863%)   rose 2.9%. Anhui Jianghuai Automobile Group (600418.SH)  +0.180 (+0.375%)   hit the daily limit-up. Auto storage-related stocks Lambo Technology (603655.SH)  -1.610 (-3.453%)   and Zhejiang Jingu (002488.SZ)  +0.130 (+1.095%)   surged 9% and 3.7%, respectively. Contemporary Amperex Technology (300750.SZ)  +17.330 (+4.052%)   fell 2.3%.

Chip stocks advanced broadly. Semiconductor Manufacturing International Corporation (688981.SH)  -1.530 (-1.342%)   climbed 5%, while Hua Hong Semiconductor (688347.SH)  -5.920 (-4.287%)   rose 3.1%. AI chipmaker Cambricon (688256.SH)  +42.130 (+3.065%)   edged up 0.3%. Moore Threads (688795.SH)  -18.880 (-2.665%)   jumped 8% after swinging to profit in 1Q, with revenue surging 155.35% YoY. Yangtze Optical Fibre and Cable (601869.SH)  -2.970 (-0.795%)   rebounded 2.5%. Semiconductor equipment maker Piotech (688037.SH)  +3.500 (+1.737%)   soared 17.8%.

Memory chip concept stocks strengthened. Montage Technology (688008.SH)  -3.710 (-2.137%)   , Shannon Xinchuang (300475.SZ)  +2.690 (+1.568%)   and Yitoa Intelligent Control (300131.SZ)  +0.160 (+0.973%)   rose between 5.5% and 8.9%. Fullhan Microelectronics (300613.SZ)  -1.150 (-1.894%)   and Dosilicon (688110.SH)  +3.150 (+2.391%)   surged 13.9% and 12.3%, respectively. Apple concept stock Luxshare Precision (002475.SZ)  -1.240 (-1.774%)   rallied 9%.

With the "May Day" holiday approaching, certain duty-free concept stocks moved higher. Dongbai Group (600693.SH)  +0.100 (+0.877%)   hit limit-up, while Xiaoshangpincheng (600415.SH)  -0.280 (-2.032%)   rose 4.8%. Kweichow Moutai (600519.SH)  -3.830 (-0.273%)   fell 3.8%, despite reporting 1Q net profit growth of 1.47% YoY. (ta/j)(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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