The three major A-share indices of Shanghai and Shenzhen fell by 0.6% to 1.2% in the first half of the day, with China Merchants Bank down 3% under pressure from the domestic banking sector

In November, China's mainland CPI rose 0.7% year-on-year, in line with expectations; the same month's PPI fell 2.2% year-on-year, a decline greater than market expectations. The People's Bank of China today (10th) conducted a reverse repurchase of 189.8 billion yuan, with a net injection of 110.5 billion yuan for the day. The RMB central parity rate was adjusted up by 20 points, reported at 7.0753 against one US dollar.

The market is watching the Federal Reserve's interest rate decision, and the three major A-share indices opened lower and continued to decline this morning. The Shanghai Composite Index fell 28 points or 0.7% to close at 3,881 points, with a turnover of 464.45 billion yuan. The Shenzhen Component Index fell 74 points or 0.6% to 13,202 points, with a turnover of 672.19 billion yuan. The ChiNext Index fell 39 points or 1.2% to 3,170 points, with a turnover of 309.19 billion yuan.

Among the heavyweight domestic banks, Bank of China (601988.SH), Industrial and Commercial Bank of China (601398.SH), and China Construction Bank (601939.SH) each fell 1.4% to 1.6% in the first half of the day, Agricultural Bank of China (601288.SH) fell 2.2%, and China Merchants Bank (600036.SH) fell 3%. Ping An Insurance (601318.SH) closed flat, while China Life (601628.SH) fell 0.4%. Brokerage stocks were weak, with CITIC Securities (600030.SH) down 1.1%, and CITIC Construction Investment (601066.SH) and Guotai Junan (601211.SH) down 0.4%.

Domestic real estate stocks showed slight differentiation, with Poly Developments (600048.SH) closing flat, Greenland (600606.SH) down 0.6%, China Vanke A (000002.SZ) down 0.4%, and JinDi (600383.SH) up 1.3%.

BYD (002594.SZ) rose slightly by 0.2%, while CATL (300750.SZ) fell 1.6%.

The U.S. has allowed NVIDIA to export H200 chips to China, but reports indicate that China will still limit the import volume of NVIDIA H200 chips. Cambricon (688256.SH) fell 2%, while SMIC (688981.SH) and Hua Hong Semiconductor (688347.SH) fell 1.7% and 2.9%, respectively, in the first half of the day.

Stocks related to the Hainan Free Trade Zone rose against the trend, with HKAIT (000735.SZ) and Hainan Ruize (002596.SZ) hitting the daily limit. China Duty Free Group (601888.SH) rose 0.9%. Retail and other consumer stocks were active, with Yonghui Superstores (601933.SH), Dongbai Group (600693.SH), and several other stocks hitting the daily limit.

Several local stocks in Fujian retreated, with Haixin Food falling 7.8% in the first half of the day