The three major indices of A-shares in Shanghai and Shenzhen opened slightly higher, domestic property stocks fell back, and rare earth stocks continued to perform well

The People's Bank of China today (14th) conducted a seven-day reverse repurchase operation in the open market amounting to 226.2 billion yuan (the same below), with the operation interest rate remaining at 1.4%. Today, 106.5 billion yuan of reverse repos are maturing, resulting in a net injection of 119.7 billion yuan. The central parity rate of the yuan against the US dollar is reported at 7.1491, down 16 points.

The three major A-share indices opened slightly higher. The Shanghai Composite Index opened at 3,513 points, up 3 points or 0.09%. The Shenzhen Component Index opened at 10,705 points, up 9 points or 0.09%. The ChiNext Index opened less than 1 point or 0.02% higher, at 2,207 points.

Banking stocks such as China Construction Bank (601939.SH) and Industrial and Commercial Bank of China (601398.SH) opened up 0.4% and 0.6%, respectively. Additionally, BYD (002594.SZ) opened flat. Contemporary Amperex Technology Co., Limited (300750.SZ) opened down 0.2%. GAC Group (601238.SH) turned from profit to loss in the first half of 2025, with its stock price opening down about 1%.

Real estate stocks generally retreated, with UKF (000514.SZ), Everbright Jiabao (600622.SH), and China Fortune Land Development (600340.SH) opening down 3%-7%. Greenland Holdings (600606.SH) hit the daily limit up, stating that its Hong Kong subsidiary's involvement in virtual asset matters does not have a significant impact.

International gold prices rose, and gold stocks rebounded, with Shandong Gold (600547.SH), Zhongjin Gold (600489.SH), and Chifeng Jilong Gold Mining (600988.SH) opening up 0.8%-4.8%.

Rare earth stocks continued to perform well, with SHRC (600392.SH), Northern Rare Earth (600111.SH), and Baotou Steel Rare Earth (600010.SH) opening up 3%-5.3%