The three major A-share indices of Shanghai and Shenzhen fell by 0.4% to 0.8% in the first half of the day, with military stocks heating up

The People's Bank of China today (17th) conducted a seven-day reverse repurchase operation of 283 billion yuan (same below) in the open market, with the operation rate remaining at 1.4%. Additionally, 119.9 billion yuan of reverse repos expired, resulting in a net injection of 163.1 billion yuan for the day. The central parity rate of the yuan against the US dollar was adjusted up by 9 points to 7.0816 per US dollar. The three major A-share indices opened lower by 0.05% to 0.5% and then fluctuated downwards, with a half-day drop of 0.4% to 0.8%.

The Shanghai Composite Index closed at 3,973 points at noon, down 17 points or 0.4%, with a turnover of 532.03 billion yuan; the Shenzhen Component Index fell 46 points or 0.4%, reporting 13,169 points, with a turnover of 733.696 billion yuan; the ChiNext Index dropped 24 points or 0.8%, reporting 3,086 points, with a turnover of 323.19 billion yuan.

In the banking sector, Industrial and Commercial Bank of China (601398.SH) fell 0.9%, and China Construction Bank (601939.SH) fell 0.7%. In addition, Contemporary Amperex Technology Co., Limited (300750.SZ) fell 4.1%, as shareholder Huang Shilin plans to transfer nearly 45.6324 million A-shares. BYD (002594.SZ) fell 0.3%.

Among leading chip stocks, SMIC (688981.SH) fell 0.7%, while Hua Hong Semiconductor (688347.SH) rose 1.3%. Technology stock Cambricon Technologies (688256.SH) fell 1.7%.

Military stocks surged, with JL (300589.SZ) and GreatWall Military (601606.SH) both hitting the daily limit