<div id="readability-page-1"><div>The People's Bank of China conducted a one-year Medium-term Lending Facility (MLF) operation of RMB500 billion, and will also add overnight reverse repo operations to its open market operations next Mon and Tue (29 and 30). The RMB central parity against the USD was set at 6.8209, down 14 bps MoM. The PBOC carried out RMB370.5 billion of seven-day reverse repo operations at an unchanged rate of 1.4%. With RMB248 billion of reverse repos maturing, the single-day net injection amounted to RMB122.5 billion. The three major A-share indices opened mixed.The Shanghai Composite opened down 7 pts, or 0.18%, at 4,103. The Shenzhen Component opened up 48 pts, or 0.3%, at 16,099. The ChiNext Index opened up 26 pts, or 0.63%, at 4,278.Mainland bank stocks were softer. ICBC (601398.SH) +0.020 (+0.277%) opened down 1.1%, CCB (601939.SH) -0.010 (-0.101%) and CMB (600036.SH) -0.130 (-0.354%) opened down 1.3% and 0.1%, respectively. Insurers also edged lower, with CHINA LIFE (601628.SH) +0.040 (+0.112%) down nearly 1% and CHINA PACIFIC INSURANCE (601601.SH) -0.110 (-0.369%) down 0.2% at the open. In addition, BYD Company (002594.SZ) -1.710 (-2.053%) opened down 0.6%, while CONTEMPORARY AMPEREX (300750.SZ) -0.840 (-0.212%) opened up 1.1%.Among chip stocks, SMIC (688981.SH) +3.460 (+2.283%) opened up 0.3%, while HUA HONG GRACE (688347.SH) +6.010 (+1.902%) opened down 0.3%. AI chip maker CAMBRICON (688256.SH) +27.910 (+1.921%) opened up 0.5%. Domestic GPU names METAX (688802.SH) -5.190 (-0.674%) and MOORE THREADS (688795.SH) -3.800 (-0.539%) opened down 0.3% and up 0.2%, respectively. LQKJ (688008.SH) +11.810 (+4.432%) opened up 4.1%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) +14.850 (+2.560%) opened up 3.1%. Memory chip maker GIGADEVICE (603986.SH) +42.350 (+6.006%) opened up nearly 5%. (jl/a)(A Shares quote is delayed for at least 15 mins.)</div></div>

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The Shanghai Composite opened down 7 points, while Shenzhen and ChiNext indices rose. The PBOC injected RMB122.5 billion net via MLF and reverse repos. Mainland bank stocks softened, with ICBC and CMB opening lower. Conversely, chip stocks showed strength; LQKJ surged over 4%, GigaDevice rose nearly 5%, and Yangtze Optical Fibre gained 3.1%. BYD dipped slightly.

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E Fund GEM ETF

Huaan SZSE ChiNext Composite 50 ETF

Shanghai Composite Opens Down 7 Pts; Mainland Bank Stocks Weaker, LQKJ  Up Over 4%