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<A Shrs> Three Major Indices Up 0.5% to 1.9% at Midday; APPTEC (603259.SH) Down Over 5%
China's exports in USD terms rose 19.4% YoY in May, while imports increased 27.4% YoY, both exceeding market expectations. The RMB central parity against the USD was set at 6.8147,...
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<A Shrs> Three Major Indices Up 0.5% to 1.9% at Midday; APPTEC (603259.SH) Down Over 5%
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China's exports in USD terms rose 19.4% YoY in May, while imports increased 27.4% YoY, both exceeding market expectations. The RMB central parity against the USD was set at 6.8147, up 51 bps from the previous day. The PBOC conducted RMB153 billion of seven-day reverse repos today (9th) at an unchanged rate of 1.4%. With RMB200 million of reverse repos maturing, the single-day net injection amounted to RMB152.8 billion. The three major A-share indices opened 0.5% to 1.4% higher and gained 0.5% to 1.9% by midday.

The Shanghai Composite Index closed at 3,979 at midday, up 20 points or 0.51%, with turnover of RMB726.621 billion. The Shenzhen Component Index rose 185 points or 1.25% to 15,007, with turnover of RMB887.153 billion. The ChiNext Index climbed 72 points or 1.91% to 3,884, with turnover of RMB430.146 billion.

Related NewsImports YoY for May in China is 27.4%, higher than the previous value of 25.3%. The forecast was 25%.
Among bank stocks, ICBC (601398.SH)  -0.030 (-0.390%)   and CCB (601939.SH)  +0.110 (+1.049%)   gained 1.2% and 0.8%, respectively. In the insurance sector, CHINA LIFE (601628.SH)  -0.300 (-0.866%)   fell 0.4%, while CHINA PACIFIC INSURANCE (601601.SH)  -0.450 (-1.384%)   rose 1%. In addition, BYD Company (002594.SZ)  -0.510 (-0.565%)   slipped 0.6%, and CONTEMPORARY AMPEREX (300750.SZ)  -6.300 (-1.622%)   declined 0.7%.

Chip stocks advanced, with SMIC (688981.SH)  +2.060 (+1.644%)   up 3.5% and HUA HONG GRACE (688347.SH)  -0.460 (-0.207%)   up 4.7%. AI chip maker CAMBRICON (688256.SH)  -11.500 (-0.934%)   rose 1.8%. Domestic GPU makers METAX (688802.SH)  +18.000 (+2.594%)   and MOORE THREADS (688795.SH)  +16.170 (+2.661%)   gained 1.6% and 1%, respectively. LQKJ (688008.SH)  -2.300 (-0.996%)   increased 4.2%. Optical fibre producer YANGTZE OPTICAL FIBRE (601869.SH)  -10.180 (-2.249%)   surged 5.8%. Memory chip maker GIGADEVICE (603986.SH)  +2.660 (+0.553%)   climbed 3.2%.

APPTEC (603259.SH)  +0.030 (+0.031%)   stated that the US Department of Defense's inclusion of the company on the updated list of "Chinese Military Companies" was erroneous. Its share price fell 5.4%.

Related NewsVehicle Sales YoY for May in China is -2.1%, higher than the previous value of -2.5%.
N Gaote (301669.SZ)  -10.650 (-21.144%)   made its debut and soared 6.33x to RMB51.88 by midday. (jl/u)(A Shares quote is delayed for at least 15 mins.)

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