--- title: "The three major A-share indices in Shanghai and Shenzhen are slightly weak, with the ChiNext falling by 0.5%. Domestic property stocks are subdued, while coal and electricity stocks rise against the trend" type: "News" locale: "en" url: "https://longbridge.com/en/news/268352740.md" description: "The three major A-share indices were slightly weak in the morning session, with the ChiNext Index down 0.5%. Domestic property stocks performed poorly, while coal and electricity stocks rose against the trend. The central parity rate of the RMB against the USD was adjusted up by 40 points, reported at 7.0754. The People's Bank of China conducted a 79.3 billion yuan seven-day reverse repurchase operation, net withdrawing 134 billion yuan. China's November services PMI fell to 52.1, and the composite PMI dropped to 51.2, indicating the weakest expansion rate in service activities in the past five months" datetime: "2025-12-03T03:36:19.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/268352740.md) - [en](https://longbridge.com/en/news/268352740.md) - [zh-HK](https://longbridge.com/zh-HK/news/268352740.md) --- # The three major A-share indices in Shanghai and Shenzhen are slightly weak, with the ChiNext falling by 0.5%. Domestic property stocks are subdued, while coal and electricity stocks rise against the trend The central parity rate of the RMB against the US dollar was raised by 40 points to 7.0754 per US dollar. The People's Bank of China today (3rd) conducted a seven-day reverse repurchase operation of RMB 79.3 billion in the open market, with the operation rate remaining at 1.4%; additionally, RMB 213.3 billion in reverse repos matured, resulting in a net withdrawal of RMB 134 billion for the day. China's November RatingDog services PMI fell to 52.1, higher than the market expectation of 51.9, down from 52.6 last month. The November S&P composite PMI dropped to 51.2, down from 51.8 last month. The latest index value remains above the boom-bust line, indicating that China's service sector activity continues to expand, extending the current expansion period that began in January 2023. However, the expansion rate for the month is the weakest in the past five months, overall remaining low. The three major A-share indices were soft in the morning session. The Shanghai Composite Index closed at 3,894 points, down 3 points or 0.09%, with a turnover of RMB 402.5 billion; the Shenzhen Component Index closed at 13,031 points, down 25 points or 0.2%, with a turnover of RMB 664.6 billion; the ChiNext Index closed at 3,055 points, down 15 points or 0.5%, with a turnover of RMB 305.1 billion. Domestic bank stocks were mixed, with Industrial and Commercial Bank of China (601398.SH) closing flat. China Construction Bank (601939.SH) fell by 0.7%. Additionally, CATL (300750.SZ) fell by 0.7%. BYD (002594.SZ) fell by 1.4%. Domestic property stocks were weak, with Vanke A (000002.SZ) down by 1.7%. It was reported that New World Development (601155.SH) issued RMB 2 billion in medium-term notes to "borrow new to repay old," with its stock price falling by 1.5%. Coal and power stocks rose against the trend, with DYEC (600403.SH), Antai Group (600408.SH), and Xindazhou A (000571.SZ) all hitting the daily limit. Huitian Thermal Power (000692.SZ) and Mindong Electric Power (000993.SZ) also hit the daily limit. ZMNY (600163.SH) rose by 5%. Leading chip stocks were mixed, with SMIC (688981.SH) down by 0.4% and Hua Hong (688347.SH) up by 0.2%. Technology stock Cambrian (688256.SH) rose by 0.3%. ZTE Corporation (000063.SZ) fell by 2.9% ### Related Stocks - [600163.CN](https://longbridge.com/en/quote/600163.CN.md) - [600403.CN](https://longbridge.com/en/quote/600403.CN.md) ## Related News & Research - [How Services Could Help Generate $13 in Earnings Per Share for Apple Stock](https://longbridge.com/en/news/286811291.md) - [Weekly policy watch: Core sector, bank credit, forex data in focus](https://longbridge.com/en/news/286717962.md) - [Thermal, gas-fired power plants regain momentum as energy demand rises](https://longbridge.com/en/news/286712640.md) - [Jadestone Energy Says Its Geared Towards Brent Oil Price Strength](https://longbridge.com/en/news/286866429.md) - [Power prices are up 76% on America’s biggest grid, and a watchdog is pointing fingers](https://longbridge.com/en/news/286590257.md)