A-Share Three Major Indices Open 2.1% to Nearly 5% Lower; Chip Stocks Slump, ZHONGJI INNOLIGHT Plunges 12%
I'm LongbridgeAI. Here is the key information I extracted- Chip stocks and optical module giants experienced severe declines at the opening, with ZHONGJI INNOLIGHT plunging 12.1% and multiple related component suppliers dropping over 10%.…
The RMB central parity rate against the USD was set at 6.7168, down 12 bps from the previous day. The People's Bank of China conducted RMB226 billion overnight reverse repo operations at an interest rate of 1.25%, resulting in a net withdrawal of RMB52 billion in a single day. Net liquidity withdrawal for this week totaled RMB1.52 trillion, marking a three-month high for weekly net withdrawal.
Microsoft's capital expenditure last quarter was USD5 billion below expectations, while reports said data center projects in Texas were delayed. In addition, the Texas governor-elect proposed halting construction of data centers. US stocks slumped overnight (5th), with the three major indices posting sharp declines. The DJIA closed down 1,833 points or 3.4%, while the S&P 500 and Nasdaq fell 4.4% and 5.5%, respectively. China's three major A-share indices opened 2.1% to nearly 5% lower. The Shanghai Composite Index opened down 77 points or 2.11% at 3,612. The Shenzhen Component Index opened down 426 points or 3.72% at 11,044. The ChiNext Index opened down 128 points or 4.99% at 2,438.
Major mainland Chinese banking stocks remained resilient against the market trend. ICBC (601398.SH) 0.000 (0.000%) and CCB (601939.SH) +0.060 (+0.515%) each opened higher, while AGRICULTURAL BANK (601288.SH) -0.010 (-0.138%) opened up 0.6%, CMB (600036.SH) +0.160 (+0.376%) rose 0.8%, and BANK OF CHINA (601988.SH) 0.000 (0.000%) gained 0.3%. Among insurers, CHINA LIFE (601628.SH) -0.320 (-0.893%) opened down 0.4%, PING AN OF CHINA (601318.SH) +0.060 (+0.110%) edged up 0.3%, and THE PEOPLE'S INSURANCE (601319.SH) -0.090 (-1.233%) opened down 0.7%. In addition, BYD Company (002594.SZ) -0.090 (-0.104%) opened down 1.5%, while CONTEMPORARY AMPEREX (300750.SZ) +2.070 (+0.784%) fell 2% at the open.
Chip stocks declined sharply. HUA HONG GRACE (688347.SH) +3.800 (+2.346%) opened down 2.4%, while SMIC (688981.SH) -3.490 (-3.153%) fell 4.2%. AI chip stock CAMBRICON (688256.SH) -51.510 (-6.096%) opened down 5.9%. Domestic GPU stock METAX (688802.SH) -21.100 (-4.332%) opened down 5.2%, while MOORE THREADS (688795.SH) -15.850 (-4.561%) fell 7.3%. LQKJ (688008.SH) -18.540 (-11.319%) opened down 10%. Memory chip stock GIGADEVICE (603986.SH) -22.100 (-8.398%) opened down 8%. SEMIGHT INSTRUMENTS (688808.SH) -100.000 (-12.195%) dropped 11% at the open, while CXMT (688825.SH) -2.240 (-5.267%) opened down 7.7%.
Among the three optical module giants known as "Yi Zhong Tian", ZHONGJI INNOLIGHT (300308.SZ) -57.380 (-11.631%) opened down 12.1%, EOPTOLINK (300502.SZ) -20.250 (-10.910%) fell 10.6%, and TFC (300394.SZ) -13.250 (-10.232%) declined 10.2%. Optical fiber stock YANGTZE OPTICAL FIBRE (601869.SH) -24.510 (-9.325%) opened down 8.8%.
YUSHU TECHNOLOGY (688836.SH) -15.990 (-2.338%) opened nearly 5% lower. (jl/da)(A Shares quote is delayed for at least 15 mins.)