The three major A-share indices of Shanghai and Shenzhen opened lower, with a preference for oil and gold stocks, while chip stocks continued to decline

AASTOCKS

Feb 4, 2026 at 01:30 AM

The central parity rate of the Renminbi against the US dollar was raised by 75 points today, reported at 6.9533 to one US dollar.

The People's Bank of China today (the 4th) conducted a 750 billion Renminbi (same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 377.5 billion Renminbi of reverse repos are maturing, resulting in a net withdrawal of 302.5 billion Renminbi for the day.

To maintain ample liquidity in the banking system, the People's Bank of China will also conduct a fixed-quantity, interest rate bidding, and multiple price-level bidding reverse repurchase operation of 800 billion Renminbi, with a term of three months (91 days).

The three major A-share indices opened lower. The Shanghai Composite Index opened at 4,064 points, down 0.08% or 3 points. The Shenzhen Component Index opened at 14,072 points, down 54 points or 0.4%. The ChiNext Index opened at 3,298 points, down 26 points or 0.8%.

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., Limited (300750.SZ) opened up 0.9%. BYD Company Limited (002594.SZ) opened down 0.4%.

The three major oil stocks opened positively, with China National Offshore Oil Corporation (600938.SH), PetroChina (601857.SH), and Sinopec (600028.SH) opening up 0.8% to 2%.

International gold prices rebounded, with spot gold rising above 5,000 US dollars, and gold-related stocks opened favorably, with Shandong Gold (600547.SH), Chifeng Jilong Gold Mining (600988.SH), Zhongjin Gold (600489.SH), and Zhaojin Mining (000506.SZ) opening up 0.4% to 1.8%.

Chip-related stocks opened lower, with Semiconductor Manufacturing International Corporation (688981.SH) and Hua Hong Semiconductor (688347.SH) opening down 1.3% and 2.2%, respectively. AI chip stock Cambricon Technologies (688256.SH) opened down 2.5%. Domestic GPU stocks Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH) opened down 1% and 1.7%, respectively.

Goldwind Technology (002202.SZ) is under investigation by the EU for anti-subsidy, with its stock price opening down 1.3%