The three major A-share indices in Shanghai and Shenzhen fell by 2.4%-2.5% in the first half of the day, with gold and chip stocks under pressure, while coal stocks rose against the trend. BYD rose by more than 5%

Geopolitical tensions are rising, with the RMB to USD central parity rate reported at 6.9041, down 143 points from the previous day, marking the lowest since March 16.

The People's Bank of China today (23rd) conducted a 7-day reverse repurchase operation of 8 billion RMB, maintaining the operation rate at 1.4%. Today, 137.3 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 129.3 billion RMB for the day.

The three major A-share indices opened lower and continued to decline. The Shanghai Composite Index closed at 3,858 points, down 98 points or 2.5%, with a trading volume of 645.8 billion RMB; the Shenzhen Component Index closed at 13,515 points, down 351 points or 2.5%, with a trading volume of 813.8 billion RMB; the ChiNext Index closed at 3,270 points, down 81 points or 2.4%, with a trading volume of 372.2 billion RMB.

Banking stocks such as Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) fell by 3% and 2.2%, respectively. Additionally, Contemporary Amperex Technology Co., Limited (300750.SZ) dropped by 1.4%. BYD Company Limited (002594.SZ) rose by 5.7% against the trend.

Coal stocks rose against the trend, with Liaoning Energy (600758.SH), Shanxi Coking Coal (000983.SZ), and Yunnan Coal Energy (600792.SH) all hitting the daily limit.

International gold prices fell, putting pressure on gold-related stocks, with Shandong Gold (600547.SH), ZHONGJIN GOLD (600489.SH), and Zhaojin Mining Industry Company Limited (000506.SZ) dropping between 6% and 7.3%. Zijin Mining (601899.SH) fell by 2.5%, reporting an operating income of 349.079 billion RMB last year, a year-on-year increase of 14.96%; net profit attributable to shareholders of the listed company was 51.777 billion RMB, a year-on-year increase of 61.55%. The company plans to acquire control of Chifeng Jilong Gold Mining Co., Ltd. through an agreement to purchase A-shares and subscribe to a private placement of H-shares. Chifeng Jilong Gold Mining Co., Ltd. (600988.SH) hit the daily limit down.

Chip stocks declined, with Semiconductor Manufacturing International Corporation (688981.SH) A-shares down 2.9%. Hua Hong Semiconductor (688347.SH) A-shares fell by 4.1%. AI chip stock Cambricon Technologies Corporation Limited (688256.SH) dropped by 3.2%. Domestic GPU stocks such as Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH) fell by 5.9% and 6.2%, respectively. Zhongwei Semiconductor (688380.SH) dropped by 2.5%, planning to increase its investment in Zhuhai Boya to acquire a 20% stake for 160 million RMB.

Computing power stocks showed mixed performance, with Mingpu Optoelectronics (002902.SZ) down 4.5%. Ruisi Kanda (603803.SH) initially fell but later rose, hitting the daily limit. Reports indicate that Alibaba may release important chip products tomorrow (24th)