<div id="readability-page-1" class="page"><div>US President Donald Trump will pay a state visit to China from May 13 to 15 (Wed to Fri). The RMB central parity against the USD was set at 6.8467, the highest since March 24, 2023, up 35 bps MoM.The People's Bank of China conducted RMB500 million of seven-day reverse repos in the open market today (11th), with the operation rate unchanged at 1.4%. With no reverse repos maturing, the single-day net injection was RMB500 million. After opening 0.5% to 0.9% higher, the three major A-share indices extended gains and closed up 1.1% to 3.5% for the day.The Shanghai Composite Index opened 21 points higher at 4,201, hitting a new high since July 2, 2015, and continued to trend upward, closing at 4,225, up 45 points or 1.1%, with turnover of RMB1.58 trillion. The Shenzhen Component Index rose 335 points or 2.2% to close at 15,899, with turnover of RMB1.95 trillion. The ChiNext Index surged 132 points or 3.5% to close at 3,928, the highest since mid-June 2015, with turnover of RMB922.847 billion. In addition, the STAR 50 Index climbed 4.7% to a record high, closing at 1,716.Among financials, ICBC (601398.SH) +0.010 (+0.134%) edged up 0.1%, while CCB (601939.SH) -0.090 (-0.929%) fell 0.9%. BYD Company (002594.SZ) +0.420 (+0.420%) rose 0.4%. CONTEMPORARY AMPEREX (300750.SZ) +9.110 (+2.085%) gained 2.1%.Chip stocks performed strongly. SMIC (688981.SH) +2.210 (+1.837%) and HUA HONG (688347.SH) +5.450 (+3.429%) rose 1.8% and 3.4%, respectively. AI chip maker CAMBRICON (688256.SH) +17.470 (+1.477%) advanced 1.5%. Domestic GPU players METAX (688802.SH) +3.500 (+0.446%) and MOORE THREADS (688795.SH) +14.000 (+1.991%) added 0.5% and nearly 2%, respectively. LQKJ (688008.SH) +38.950 (+18.524%) surged 18.5%. YANGTZE OPTICAL FIBRE (601869.SH) +3.080 (+0.775%) rose 0.8%.*ST WINGTECH (600745.SH) -1.200 (-4.979%) said control over Anshi remains temporarily restricted, with its shares closing down nearly 5%. (jl/u)(A Shares quote is delayed for at least 15 mins.)</div></div>

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Three major Chinese stock indices closed higher, gaining between 1.1% and 3.5%, with total market turnover exceeding RMB 3.5 trillion. The Shanghai Composite Index rose to 4,225, marking its highest level since July 2015. The Shenzhen Component Index and ChiNext Index also saw significant gains. The People's Bank of China injected RMB 500 million through reverse repos, maintaining an operation rate of 1.4%. Notable performances were seen in chip stocks, while *ST WINGTECH faced a nearly 5% decline due to restricted control over Anshi.

3 Key CN Indices Gain 1.1-3.5% at End; SZ/ SH Mkt Turnover Tops RMB3.5T