The central parity of RMB against USD was set at 6.8589, down 10 bps MoM.The People's Bank of China conducted RMB43.5 billion seven-day reverse repo operations in the open market today (28th), with the operation rate unchanged at 1.4%. RMB5 billion of reverse repos matured today, resulting in a single-day net injection of RMB38.5 billion.Related NewsCiti: CATL (03750.HK) Product Performance Leads Industry, Expected to Gain Market ShareThe three major A-share indices opened lower. The Shanghai Composite Index opened at 4,076 points, down 10 points or 0.3%. The Shenzhen Component Index opened at 14,925 points, down 70 points or 0.5%. The ChiNext Index opened at 3,623 points, down 25 points or 0.7%.Banking stocks were subdued at the open. Industrial and Commercial Bank of China (601398.SH) +0.020 (+0.266%) and China Construction Bank (601939.SH) +0.120 (+1.240%) opened down 0.3% and 0.2%, respectively. GF Securities (000776.SZ) +1.200 (+6.030%) opened up 5.6% after its 1Q26 net profit surged 70.7% YoY. BYD (002594.SZ) -0.860 (-0.840%) opened down 0.5%. CATL (300750.SZ) -7.210 (-1.658%) opened down 2%, after CATL (03750.HK) -46.500 (-6.884%) Short selling $4.34B; Ratio 49.427% placed shares at a 7% discount, raising net proceeds of over HKD39.1 billion. Tianqi Lithium (002466.SZ) -1.120 (-1.521%) opened up 1.3%, with its 1Q26 net profit surging 17x YoY.Chip stocks were generally weak. SMIC (688981.SH) -2.580 (-2.213%) fell 1.2% at the open, while Hua Hong Semiconductor (688347.SH) -5.020 (-3.508%) also opened down 1.2%. AI chipmaker Cambricon (688256.SH) +17.780 (+1.311%) opened down 0.2%. YOFC (601869.SH) -4.010 (-1.062%) opened down 1.9%. Montage Technology (688008.SH) -4.480 (-2.516%) reported a 61.3% YoY increase in 1Q26 net profit, but its share price fell 3% at market open.Related News BofAS: CATL (03750.HK) Showcases Multiple Breakthroughs at Tech Day, Reiterates BuyWuXi AppTec (603259.SH) +10.050 (+9.998%) hit limit up after its 1Q26 net profit rose 26.7% YoY to RMB4.65 billion. Junshi Biosciences (688180.SH) +0.590 (+1.447%) opened up 1.8%, with its 1Q26 loss narrowing to RMB20.56 million.Walvax Biotechnology (300142.SZ) +0.900 (+7.531%) opened up 5.5%, with its 1Q26 net profit surging more than 40x YoY.Zhangyuan Tungsten (002378.SZ) +0.600 (+2.046%) opened up 4%, with its 1Q26 net profit rising nearly eightfold YoY. (ta/u) (HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-04-28 16:25.) (A Shares quote is delayed for at least 15 mins.)Related News CLSA: CATL (03750.HK) to Raise USD5B via 7% Discounted Placement; Expects Positive Market Reaction
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