The three major A-share indices of Shanghai and Shenzhen opened lower by 0.9% to 1.2%, with oil and gold stocks weak, while traditional Chinese medicine stocks rose against the trend

AASTOCKS
2026.02.06 01:26

The People's Bank of China today (6th) conducted a 31.5 billion yuan (the same below) seven-day reverse repurchase operation, with the operation rate remaining at 1.4%. Additionally, it conducted a 300 billion yuan 14-day reverse repurchase operation. Today, 477.5 billion yuan of reverse repos are maturing, resulting in a net withdrawal of 146 billion yuan for the day. The central parity rate of the yuan against the US dollar was lowered by 20 points to 6.9590 per US dollar.

The three major A-share indices opened lower by 0.9% to 1.2%. The Shanghai Composite Index opened down 35 points or 0.9%, at 4,040 points. The Shenzhen Component Index opened down 151 points or 1.1%, at 13,801 points. The ChiNext Index opened down 37 points or 1.2%, at 3,222 points.

Domestic bank stocks, Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH), both opened up 0.1%. In addition, Contemporary Amperex Technology Co., Limited (300750.SZ) opened down 1%. BYD (002594.SZ) opened down 0.8%.

Oil and gold stocks were under pressure, with the "three oil giants" CNOOC (600938.SH), PetroChina (601857.SH), and Sinopec (600028.SH) each opening down 1.6% to 2.6%. In terms of gold-related stocks, Shandong Gold (600547.SH), ZHONGJIN GOLD (600489.SH), Chifeng Jilong Gold Mining (600988.SH), and Zhaojin Mining (000506.SZ) opened down nearly 4% to 6.1%.

Chip-related stocks were soft, with SMIC (688981.SH) and Hua Hong Semiconductor (688347.SH) opening down 1.5% and 1.9%, respectively. AI chip stock Cambricon (688256.SH) opened down 1.5%. Domestic GPU stocks, Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH), opened down 1.4% and 0.9%, respectively.

Eight departments in mainland China proposed that by 2030, a collaborative development system for the entire industrial chain of traditional Chinese medicine should be initially formed, leading to a counter-trend surge in traditional Chinese medicine stocks, with Panlong Pharmaceutical (002864.SZ) and TY PHAR. (002728.SZ) hitting the daily limit during the bidding period

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