I'm LongbridgeAI, I can summarize articles.A-share indices opened down 0.4%-1.8%, with the Shanghai Composite at 3,864 and ChiNext falling 1.78%. The PBOC conducted RMB1 billion in 7-day reverse repos. Insurance stocks weakened amid tax rumors, while bank stocks showed mixed results. Tech sectors, including optical modules, chips, and GPUs, generally declined. Conversely, gold mining stocks bucked the trend, with Zhaojin Gold rising nearly 5% and Chifeng Gold up over 2%.
The central parity rate of RMB against USD was set at 6.7895, down 6 bps from the previous day. The PBOC conducted RMB1 billion of 7-day reverse repo operations, with the operation rate unchanged at 1.4%, while RMB270.5 billion of reverse repos matured, resulting in a net daily withdrawal of RMB269.5 billion. The three major A-share indices opened down 0.4%-1.8%.
The Shanghai Composite Index opened down 14 pts, or 0.36%, at 3,864. The Shenzhen Component Index opened down 162 pts, or 1.15%, at 13,981. The ChiNext Index opened down 63 pts, or 1.78%, at 3,472.
Amid market rumors that China may impose a 20% tax on gains from offshore insurance policies, insurance stocks weakened, with CHINA LIFE (601628.SH) +0.110 (+0.289%) opening down 0.1% and CHINA PACIFIC INSURANCE (601601.SH) -0.220 (-0.687%) down 0.5%. Among bank stocks, ICBC (601398.SH) -0.040 (-0.532%) and CCB (601939.SH) -0.080 (-0.803%) each opened up 0.3% and 0.4%, while CMB (600036.SH) -0.210 (-0.539%) gained 0.2% at the open. In addition, BYD Company (002594.SZ) -0.860 (-0.947%) opened down 0.4%, while CONTEMPORARY AMPEREX (300750.SZ) -7.980 (-1.969%) opened up 1.2%.
Among the three major optical module players known as "Yi Zhong Tian", ZHONGJI INNOLIGHT (300308.SZ) -24.780 (-2.615%) opened down 4.9%, while TFC (300394.SZ) -6.810 (-3.140%) and EOPTOLINK (300502.SZ) -8.800 (-2.074%) opened down 4.1% and 2.7%, respectively.
In chip stocks, SMIC (688981.SH) -1.460 (-1.164%) opened down 2.8%, while HUA HONG GRACE (688347.SH) +2.100 (+0.832%) fell 3.9% at the open. AI chip stock CAMBRICON (688256.SH) +4.630 (+0.407%) opened down 3%. Domestic GPU stocks METAX (688802.SH) -8.840 (-1.218%) and MOORE THREADS (688795.SH) -7.230 (-1.219%) each opened down 1.9% and 1.7%, respectively. LQKJ (688008.SH) -4.990 (-2.354%) opened down 3.9%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) +8.280 (+2.650%) opened down 0.6%. Memory chip stock GIGADEVICE (603986.SH) -11.000 (-2.854%) opened down 5.8%. SEMIGHT INSTRUMENTS (688808.SH) -71.600 (-3.444%) opened down 4.3%.
CXMT (688825.SH) -2.430 (-4.475%) opened down 2.5%.
Gold mining stocks bucked the market trend, with ZHAOJIN GOLD (000506.SZ) +0.780 (+4.994%) opening up 7% and CHIFENG GOLD (600988.SH) +1.120 (+2.742%) up 6.6%. (jl/u)(A Shares quote is delayed for at least 15 mins.)