I'm LongbridgeAI, I can summarize articles.Shanghai Composite opened down 2 points at 3,902. The PBOC injected RMB340 billion via reverse repos. Bank stocks were soft, with ICBC and CCB opening slightly lower. Chip stocks faced pressure; SMIC and Hua Hong Grace declined, while YUSHU TECHNOLOGY slumped nearly 5%. Conversely, optical module giants like Zhongji Innolight edged higher following strong interim profit reports.
The central parity rate of RMB against the USD was set at 6.7841, down 24 bps MoM. The PBOC today (24th) conducted RMB340 billion of 7-day reverse repo operations, while no reverse repos matured, resulting in a net injection of RMB340 billion in a single day.
The three major A-share indices opened mixed. The Shanghai Composite Index opened down 2 pts or 0.06% at 3,902. The Shenzhen Component Index opened up 23 pts or 0.17% at 14,118. The ChiNext Index opened up 4 pts or 0.13% at 3,550.
Chinese bank stocks were soft. ICBC (601398.SH) +0.090 (+1.158%) and CCB (601939.SH) +0.130 (+1.235%) opened down 0.1% and 0.6%, while CMB (600036.SH) +0.400 (+1.028%) opened down 0.1%. Among Chinese insurers, CHINA LIFE (601628.SH) +0.280 (+0.756%) opened down 0.1%, CHINA PACIFIC INSURANCE (601601.SH) +0.100 (+0.329%) opened down 0.03%, and PING AN OF CHINA (601318.SH) +0.870 (+1.631%) opened down 0.02%. In addition, BYD Company (002594.SZ) -0.800 (-0.884%) opened down 0.5%. CONTEMPORARY AMPEREX (300750.SZ) -0.420 (-0.107%) opened flat after the company launched the CATL Mall and plans to conduct livestream sales in the future.
Among chip stocks, SMIC (688981.SH) -1.860 (-1.490%) opened down 0.2%, while HUA HONG GRACE (688347.SH) -5.120 (-2.195%) opened nearly 1% lower. AI chip stock CAMBRICON (688256.SH) -48.370 (-4.673%) opened flat. Domestic GPU stocks METAX (688802.SH) -24.500 (-3.500%) and MOORE THREADS (688795.SH) -11.500 (-2.118%) opened down 0.6% and 0.5%, respectively. LQKJ (688008.SH) -7.050 (-3.515%) opened up 0.01%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) +0.910 (+0.250%) opened up 2%. Memory chip stock GIGADEVICE (603986.SH) -19.060 (-4.659%) opened down 1%. SEMIGHT INSTRUMENTS (688808.SH) -47.220 (-2.033%) opened nearly 1% lower. As for CXMT (688825.SH) +0.220 (+0.379%) , it opened down 0.7%.
The three optical module giants known as "Yi Zhong Tian" edged higher. ZHONGJI INNOLIGHT (300308.SZ) -52.180 (-5.533%) opened up 0.2% after the company reported interim net profit of RMB13.651 billion, up 2.4x YoY. TFC (300394.SZ) -15.200 (-5.566%) opened down 1.5%, while EOPTOLINK (300502.SZ) -24.130 (-5.459%) opened up 0.7%.
YUSHU TECHNOLOGY (688836.SH) -47.510 (-7.066%) opened down 4.8%. (jl/a)(A Shares quote is delayed for at least 15 mins.)