I'm LongbridgeAI, I can summarize articles.The Shanghai Composite Index fell 0.46% to 3,952 at midday, while the Shenzhen Component Index dropped 0.35%. Chip-related stocks surged significantly, with domestic GPU makers Metax and Moore Threads rising nearly 20% and 15% respectively. Oil and gas stocks also gained notably due to US-Iran agreement developments boosting international oil prices. Conversely, major bank and insurance stocks declined slightly.
China's Jun CPI rose 1% YoY, slightly below expectations, while PPI increased 4.1%, in line with forecasts. The RMB central parity against the USD was set at 6.8036, hitting a fresh high in nearly three and a half years, up 41 bps from the previous day. The PBOC conducted RMB10 billion of seven-day reverse repo operations, while RMB288.5 billion of reverse repos matured, resulting in a net drain of RMB278.5 billion in a single day. China's three major A-share indices opened 0.2% to 1.2% higher before diverging later.
The Shanghai Composite Index closed the morning down 18 pts, or 0.46%, at 3,952, with turnover of RMB790.773 billion. The Shenzhen Component Index fell 51 pts, or 0.35%, to 14,887, with turnover of RMB906.272 billion. The ChiNext Index rose 4 pts, or 0.13%, to 3,850, with turnover of RMB404.95 billion.
Among Chinese bank stocks, ICBC (601398.SH) -0.090 (-1.221%) and CCB (601939.SH) -0.170 (-1.688%) fell 1.2% and 1.7%, respectively, while CMB (600036.SH) -0.270 (-0.712%) dropped 0.7%. Chinese insurance stocks CHINA LIFE (601628.SH) -0.320 (-0.867%) and CHINA PACIFIC INSURANCE (601601.SH) -0.260 (-0.885%) each declined 0.9%. In addition, BYD Company (002594.SZ) -1.220 (-1.390%) fell 1.4%. CONTEMPORARY AMPEREX (300750.SZ) +2.430 (+0.673%) rose 0.7%.
Among chip stocks, SMIC (688981.SH) +9.890 (+6.502%) gained 6.5%, while HUA HONG GRACE (688347.SH) +31.180 (+8.700%) advanced 8.7%. AI chip stock CAMBRICON (688256.SH) +85.100 (+6.020%) rose 6%. Domestic GPU stocks METAX (688802.SH) +165.800 (+19.736%) and MOORE THREADS (688795.SH) +98.800 (+14.835%) surged 19.7% and 14.8%, respectively, while Changxin Technology (688825.SH) officially launched its STAR Market IPO issuance process. LQKJ (688008.SH) +12.160 (+4.920%) rose 4.9%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) -1.200 (-0.293%) slipped 0.3%. Memory chip stock GIGADEVICE (603986.SH) +36.830 (+6.106%) climbed 6.1%.
Among the three leading optical module companies, ZHONGJI INNOLIGHT (300308.SZ) +17.650 (+1.564%) rose 1.6%, TFC (300394.SZ) +10.320 (+4.201%) gained 4.2%, and EOPTOLINK (300502.SZ) +10.120 (+1.981%) increased nearly 2%.
RIGOL Tech (00537.HK) -15.640 (-34.015%) and Dtech Technology (01377.HK) -3.600 (-0.947%) were added to the Stock Connect eligible securities list. Their A-share counterparts, RIGOL (688337.SH) -4.120 (-7.203%) and DTECH (301377.SZ) -7.560 (-1.598%) , fell 7.2% and 1.6%, respectively.
BOE A (000725.SZ) +0.170 (+2.228%) rose 2.2% after the company forecast up to nearly 70% YoY growth in net profit for 1HYY.
Changes in the US-Iran agreement boosted international oil prices, leading to significant gains in oil and gas stocks. TONG PETROTECH (300164.SZ) +1.400 (+17.220%) surged 17.2%, while SHANDONG MOLONG (002490.SZ) +0.700 (+10.043%) hit the daily upper limit. (jl/da)(HK stocks quote is delayed for at least 15 mins.) (A Shares quote is delayed for at least 15 mins.)