The three major A-share indices of the Shanghai and Shenzhen stock exchanges opened mixed, with chip stocks showing weakness; Cambricon opened down over 2%

The central parity rate of the RMB against the US dollar was lowered by 16 points to 7.0749 per US dollar.

The People's Bank of China today (5th) conducted a 139.8 billion RMB (same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 301.3 billion RMB of reverse repos matured, resulting in a net withdrawal of 161.5 billion RMB for the day. The central bank also conducted a 1 trillion RMB buyout reverse repurchase operation with a term of 91 days on the same day.

The three major A-share indices opened mixed. The Shanghai Composite Index opened at 3,873 points, down 2 points or 0.07%. The Shenzhen Component Index opened at 13,020 points, up 13 points or 0.1%. The ChiNext Index opened up 16 points or 0.6%, at 3,084 points.

Banking stocks were slightly weak, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) opening down 0.1% and 0.2%, respectively. In addition, CATL (300750.SZ) opened up 1%. BYD (002594.SZ) opened flat.

Leading chip stocks were slightly weak, with SMIC (688981.SH) and Hua Hong (688347.SH) opening down 0.6% and 1.1%, respectively. Cambricon (688256.SH) denied rumors of increased AI chip production, with its stock price opening down 2.2%