The Shanghai Composite Index fell 0.2% for the whole day, with domestic bank stocks dragging down the market, while robotics and computing power concept stocks rose

AASTOCKS
2025.04.30 07:00

The People's Bank of China today (30th) conducted a 7-day reverse repurchase operation in the open market amounting to 530.8 billion yuan (same below), with the operation interest rate remaining at 1.5%. Today, 108 billion yuan of reverse repos matured, resulting in a net injection of 422.8 billion yuan for the day. The central parity rate of the yuan against the US dollar was reported at 7.2014, an increase of 15 points.

The manufacturing PMI in mainland China fell to 49 in April, slipping back into contraction. The three major A-share indices showed mixed performance in the morning session, with domestic banks dragging down the Shanghai Composite Index. The Shanghai Composite Index fell 7 points or 0.2% to 3,279 points, with a trading volume of 505.6 billion yuan; the Shenzhen Component Index rose 50 points or 0.5% to 9,899 points, with a trading volume of 663.7 billion yuan; the ChiNext Index rose 16 points or 0.8% to 1,948 points, with a trading volume of 293.4 billion yuan.

The performance of domestic bank stocks in the first quarter was less than ideal, leading to a decline in bank stocks. State-owned domestic bank stocks, including Industrial and Commercial Bank of China (601398.SH), Agricultural Bank of China (601288.SH), Bank of China (601988.SH), China Construction Bank (601939.SH), and China Merchants Bank (600036.SH), fell between 3% and 3.6%.

Retail consumption stocks showed mixed results, with Maoye Commercial (600828.SH) falling 2.5%. China Duty Free Group (601888.SH) rose 1.7%, with its net profit for the first quarter down 16% year-on-year.

Computing power stocks rose, with Entive (300911.SZ) increasing by over 10%. Dongfang Materials (603110.SH) rose 4.8%. Zhejiang Wenhui Entertainment (600986.SH) hit the daily limit.

Robot concept stocks rose in the afternoon, with Southern Precision (002553.SZ) and Nanjing Chemical Fiber (600889.SH) both hitting the daily limit. Jingye Intelligent (688290.SH) rose 9.3%.

Seres (601127.SH) opened high and rose 2.8%, with its net profit for the first quarter increasing by 240.6% year-on-year. BYD (002594.SZ) fell 0.5%. Contemporary Amperex Technology Co., Limited (300750.SZ) also fell 0.2%

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