--- title: "The three major A-share indices in Shanghai and Shenzhen showed mixed performance in the first half of the day, with the Shanghai Composite Index slightly rising, photovoltaic stocks gaining, and military stocks retreating" type: "News" locale: "en" url: "https://longbridge.com/en/news/239954066.md" description: "The three major A-share indices showed mixed performance in the early market, with the Shanghai Composite Index slightly rising 0.08% to 3,371 points, while the Shenzhen Component Index and the ChiNext Index fell 0.2% respectively. Solar stocks performed strongly, with JYT and GCLSI hitting the daily limit, and Tongwei Co., Ltd rising 9.4%. After the China-U.S. economic and trade talks, both sides canceled 91% of the additional tariffs, and the central parity rate of the RMB against the USD was adjusted up by 75 points. The People's Bank of China conducted a reverse repurchase operation of 180 billion yuan, resulting in a net withdrawal of 225 billion yuan from the market" datetime: "2025-05-13T03:32:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/239954066.md) - [en](https://longbridge.com/en/news/239954066.md) - [zh-HK](https://longbridge.com/zh-HK/news/239954066.md) generator: "portal-rs" --- # The three major A-share indices in Shanghai and Shenzhen showed mixed performance in the first half of the day, with the Shanghai Composite Index slightly rising, photovoltaic stocks gaining, and military stocks retreating The "Joint Statement of the China-U.S. Geneva Economic and Trade Talks" has been released. The Ministry of Commerce of China stated that both China and the U.S. have canceled a total of 91% of the additional tariffs and suspended the implementation of 24% of the counter-tariffs. U.S. President Trump stated that the goal of the U.S. is not to harm China and plans to speak with Chinese President Xi Jinping before the weekend. Trump emphasized that although existing tariffs on automobiles, steel, aluminum, and pharmaceuticals remain, both sides have agreed to a comprehensive reset of their relationship. He added that the new approach prioritizes dialogue over confrontation. The offshore RMB surged nearly 500 points during trading. The RMB to USD central parity rate was reported at 7.1991, an increase of 75 points. The People's Bank of China today (13th) conducted a 7-day reverse repurchase operation in the open market amounting to 180 billion RMB, with the operation rate remaining at 1.4%. Today, 405 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 225 billion RMB for the day. The three major A-share indices showed mixed performance in the morning session, with the Shanghai Composite Index rising steadily. The Shanghai Composite Index rose 2 points or 0.08% to close at 3,371 points, with a trading volume of 343.5 billion RMB. The Shenzhen Component Index closed at 10,276 points, down 24 points or 0.2%, with a trading volume of 540.5 billion RMB. The ChiNext Index closed at 2,059 points, down 4 points or 0.2%, with a trading volume of 255.7 billion RMB. Banking stocks rose steadily, with China Construction Bank (601939.SH) and Industrial and Commercial Bank of China (601398.SH) rising 0.8% and 1.1%, respectively. Shanghai Pudong Development Bank (600000.SH), Shanghai Bank (601229.SH), and Jiangsu Bank (600919.SH) rose 1.8%-3.1%. Additionally, BYD (002594.SZ) fell by 1%. CATL (300750.SZ), which is about to be listed in Hong Kong, initially rose before retreating, slightly down 0.2% at midday. Leading semiconductor chip stocks were soft, with SMIC (688981.SH) and Hua Hong Semiconductor (688347.SH) down 0.9% and 1.9%, respectively. Photovoltaic stocks surged, with JYT (601908.SH) and GCLSI (002506.SZ) both hitting the daily limit. Tongwei Co., Ltd (600438.SH) rose by 9.4%. Industry insiders indicated that some manufacturers proposed production cuts to support prices. Innovative drug concept stocks rebounded, with BeiGene (688235.SH) and I-Mab Biopharma (688382.SH) rising 4.5% and 1%, respectively. Military industry stocks retreated, with Aerospace Nanhai (688552.SH), Huaru Technology (301302.SZ), and Guorui Technology (600562.SH) down 2.5%-3.8% ### Related Stocks - [600438.CN](https://longbridge.com/en/quote/600438.CN.md) - [601908.CN](https://longbridge.com/en/quote/601908.CN.md) - [002506.CN](https://longbridge.com/en/quote/002506.CN.md) - [300750.CN](https://longbridge.com/en/quote/300750.CN.md) - [01211.HK](https://longbridge.com/en/quote/01211.HK.md) - [06160.HK](https://longbridge.com/en/quote/06160.HK.md) - [600000.CN](https://longbridge.com/en/quote/600000.CN.md) - [600919.CN](https://longbridge.com/en/quote/600919.CN.md) - [01398.HK](https://longbridge.com/en/quote/01398.HK.md) - [600562.CN](https://longbridge.com/en/quote/600562.CN.md) - [03750.HK](https://longbridge.com/en/quote/03750.HK.md) - [00939.HK](https://longbridge.com/en/quote/00939.HK.md) - [688382.CN](https://longbridge.com/en/quote/688382.CN.md) - [601229.CN](https://longbridge.com/en/quote/601229.CN.md) ## Related News & Research - [Iran warns vessels violating Hormuz transit rules of fines, detention](https://longbridge.com/en/news/296749749.md) - [YMTC's STAR Mkt IPO Application Accepted, w/ Plans to Raise RMB33B](https://longbridge.com/en/news/296724109.md) - [China's Dongshan Precision to Lift Investment in Unit's Optical Chips, Modules Projects by USD500 Million](https://longbridge.com/en/news/296750539.md) - [03:26 ETMacGregor extends Horizon gangway to floating-to-floating personnel transfer](https://longbridge.com/en/news/296750317.md) - [04:00 ETKPMG PRI becomes first verification body accredited by ANAB for Section 45Z clean fuel certifications](https://longbridge.com/en/news/296753599.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**