--- title: "The three major A-share indices of Shanghai and Shenzhen rose 0.3%-1.7% throughout the day, with banking and retail stocks climbing in the afternoon" type: "News" locale: "en" url: "https://longbridge.com/en/news/239273470.md" description: "The three major A-share indices rose throughout the day, with the Shanghai Composite Index up 0.3%, the Shenzhen Component Index up 0.9%, and the ChiNext Index up 1.7%. The People's Bank of China conducted reverse repurchase operations, lowering the interest rate to 1.4%. Bank and retail department store stocks performed strongly, with some bank stocks such as Bank of Ningbo and SPD Bank rising by 2.8% and 2.3%, respectively. Retail stocks like FJDB and ZBJT hit the daily limit, and automotive service and robotics concept stocks also performed actively" datetime: "2025-05-08T07:13:00.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/239273470.md) - [en](https://longbridge.com/en/news/239273470.md) - [zh-HK](https://longbridge.com/zh-HK/news/239273470.md) generator: "portal-rs" --- # The three major A-share indices of Shanghai and Shenzhen rose 0.3%-1.7% throughout the day, with banking and retail stocks climbing in the afternoon The People's Bank of China today (8th) conducted a 158.6 billion yuan (same below) 7-day reverse repurchase operation, with the operation rate lowered from 1.5% to 1.4%. There are no reverse repos maturing today, resulting in a net injection of 158.6 billion yuan. The central parity rate of the yuan against the US dollar is reported at 7.2073, down 68 points. The three major A-share indices opened lower but rose throughout the day. The Shanghai Composite Index rose 9 points or 0.3% to close at 3,352 points, with a turnover of 501.6 billion yuan; the Shenzhen Component Index rose 93 points or 0.9% to close at 10,197 points, with a turnover of 791.8 billion yuan; the ChiNext Index rose 32 points or 1.7% to close at 2,029 points, with a turnover of 375.8 billion yuan. Major domestic bank stock Industrial and Commercial Bank of China (601398.SH) closed flat. China Construction Bank (601939.SH) rose 0.9%. Some bank and insurance stocks performed strongly, with Bank of Ningbo (002142.SZ) and SPD Bank (600000.SH) rising 2.8% and 2.3%, respectively. China Pacific Insurance (601601.SH), China Merchants Bank (600036.SH), and China Life Insurance (601628.SH) rose by 0.9%-1.9%. Leading domestic real estate stocks softened, with Vanke (000002.SZ), Poly (600048.SH), Greenland (600606.SH), and JinDi Group (600383.SH) falling by 0.3%-1.7%. Retail department store stocks rose in the afternoon, with FJDB (600693.SH) and ZBJT (000759.SZ) hitting the daily limit. Hangzhou Department Store (600814.SH) and Baida Group (600865.SH) rose by 4.3% and 4%, respectively. Automotive service concept stocks rose, with Shanghai Phoenix (600679.SH) and Jiuzhou Holdings (300994.SZ) both hitting the daily limit. Zhonglu Co., Ltd. (600818.SH) and Zhenghe Industrial (003033.SZ) rose by 2.9% and 5.8%, respectively. Robot concept stocks surged, with Wanxiang Qianchao (000559.SZ), Chunguang Technology (603657.SH), and Jikai Co., Ltd. (002691.SZ) among several stocks hitting the daily limit. BYD (002594.SZ) closed flat. 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