<div id="readability-page-1"><div>The text of the US-Iran memorandum of understanding has been finalized and will be officially signed in Switzerland on Friday (19th). In the first five months, new RMB loans in mainland China reached RMB9.11 trillion, slightly above expectations. M2 money supply in May grew 8.6% YoY, in line with expectations. A media outlet supervised by the central bank said loan growth deceleration should be viewed objectively and rationally.The RMB central parity against the USD was set at 6.8088, up 21 bps MoM, marking a new high since February 10, 2023. The People's Bank of China conducted RMB425 billion of 7-day reverse repos today (15th) at an unchanged operation rate of 1.4%. With RMB218.5 billion of reverse repos maturing, the single-day net injection was RMB206.5 billion. The three major A-share indices opened 0.6% to 1.7% higher.The Shanghai Composite Index opened up 22 points, or 0.55%, at 4,053. The Shenzhen Component Index opened up 189 points, or 1.27%, at 15,153. The ChiNext Index opened up 65 points, or 1.72%, at 3,896.Banking stocks saw mixed performance. ICBC (601398.SH) -0.090 (-1.157%) opened down 0.4%, while CCB (601939.SH) -0.150 (-1.402%) opened down 0.7%. Among insurers, CHINA LIFE (601628.SH) +0.740 (+2.066%) opened up 0.3%, and CHINA PACIFIC INSURANCE (601601.SH) +0.650 (+1.978%) opened up 0.5%. In addition, BYD Company (002594.SZ) -0.390 (-0.426%) opened up 0.01%, while CONTEMPORARY AMPEREX (300750.SZ) +3.890 (+0.985%) opened up 1.8%.Chip stocks were broadly higher. SMIC (688981.SH) +4.370 (+3.499%) opened nearly 3% higher, HUA HONG GRACE (688347.SH) +8.230 (+3.769%) rose 0.8%, and CAMBRICON (688256.SH) +44.290 (+3.572%) , an AI chip stock, gained 1.1%. Domestic GPU makers METAX (688802.SH) +9.870 (+1.420%) and MOORE THREADS (688795.SH) +10.970 (+1.797%) opened up 2.1% and 1.9%, respectively. LQKJ (688008.SH) +6.200 (+2.757%) rose 2.4%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) +2.500 (+0.573%) gained 0.8%, while memory chip firm GIGADEVICE (603986.SH) +15.530 (+3.226%) rose 2.8%. &#34;New Stock King&#34; SEMIGHT INSTRUMENTS (688808.SH) +1.010 (+0.049%) opened 1.6% higher.Shipping stocks surged, with TANKER (601975.SH) +0.420 (+10.096%) , MERCHANTS SHIPPING (601872.SH) +1.560 (+10.000%) , and COSCO SHIPPING ENERGY (600026.SH) +1.750 (+10.000%) hitting limit-up during the call auction session. The US and Iran have reached a peace agreement, and the US stated that the Strait of Hormuz will be &#34;open without transit fees.&#34; (jl/a)(A Shares quote is delayed for at least 15 mins.)</div></div>

399006

00981

688347

01347

399001

688981

159915

159949

Shanghai and Shenzhen A-shares opened higher, with the Shanghai Composite up 0.55%, Shenzhen Component up 1.27%, and ChiNext up 1.72%. Chip stocks surged, led by SMIC and Hua Hong Grace. Shipping stocks hit limit-up due to a US-Iran peace agreement ensuring open Strait of Hormuz transit. Macro data showed May new RMB loans at 9.11 trillion yuan and M2 growth at 8.6% YoY. The PBOC injected net 206.5 billion yuan via reverse repos.

- A US-Iran memorandum of understanding will be signed in Switzerland on Friday (19th), coinciding with China's new RMB loans reaching RMB 9.11 trillion in the first five months of the year.  
- The People's Bank of China announced an increase in the RMB central parity against the USD and conducted a net injection of RMB 206.5 billion through reverse repos.  
- Major A-share indices opened higher, particularly in the shipping and chip sectors, while various banking stocks exhibited mixed performances.

Shanghai and Shenzhen A-Shares Open 0.6% to 1.7% Higher; Shipping Stocks Surge