The three major indices of A-shares in Shanghai and Shenzhen opened slightly higher, with SMIC and Hua Hong rising

The central parity rate of the RMB against the US dollar was raised by 52 points today, reported at 7.0471 per US dollar, reaching a new high since the end of September last year.

The People's Bank of China today (24th) conducted a 26 billion RMB (same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 46.8 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 20.8 billion RMB for the day.

The three major indices of A-shares opened slightly higher. The Shanghai Composite Index opened at 3,920 points, up less than 1 point. The Shenzhen Component Index opened at 13,378 points, up 9 points or 0.07%. The ChiNext Index opened 2 points or 0.07% higher, reported at 3,207 points.

Domestic bank stocks Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) opened flat. In addition, Contemporary Amperex Technology Co., Ltd. (300750.SZ) and BYD Company Limited (002594.SZ) also opened near flat.

Leading domestic chip stocks rose, with SMIC (688981.SH) and Hua Hong (688347.SH) opening up 2.2% and 2.3%, respectively. According to the Shanghai Securities Journal, verified from multiple sources, SMIC has implemented price increases on some production capacities, with an increase of about 10%. Some companies also reported that price increases are expected to be implemented soon. Cambricon Technologies Corporation Limited (688256.SH) opened near flat