On New Year's Eve, the three major indices of A-shares opened slightly higher, with a preference for domestic property stocks

The central parity rate of the RMB against the US dollar was raised by 60 points to 7.0288 per US dollar.

The People's Bank of China today (31st) conducted a 528.8 billion yuan (same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 26 billion yuan of reverse repos are maturing, resulting in a net injection of 502.8 billion yuan for the day.

On the last trading day of 2025, the three major A-share indices opened slightly higher. The Shanghai Composite Index opened at 3,968 points, up 3 points or 0.09%. The Shenzhen Component Index opened at 13,627 points, up 23 points or 0.2%. The ChiNext Index opened up 4 points or 0.2%, at 3,247 points.

Domestic bank stocks opened lower, with Industrial and Commercial Bank of China (601398.SH) down 0.3%. China Construction Bank (601939.SH) opened flat. In addition, Contemporary Amperex Technology Co., Ltd. (300750.SZ) and BYD (002594.SZ) both opened about 0.2% higher.

Leading domestic property stocks were favored, with Gemdale (600383.SH), Poly Developments (600048.SH), and Vanke A (000002.SZ) opening up 0.7% to 1%.

Chip stocks opened steadily, with SMIC (688981.SH) and Hua Hong Semiconductor (688347.SH) opening up 0.6% and 0.1%, respectively. Cambricon Technologies (688256.SH) opened about 0.7% higher