"Shanghai and Shenzhen" bank stocks support the Shanghai Composite Index to stabilize slightly in the first half of the day, while oil and gold stocks are weak, and innovative drug concept stocks rise

The People's Bank of China announced that the one-year and five-year Loan Prime Rates (LPR) for June remain unchanged at 3% and 3.5%, respectively, in line with market expectations. Today (20th), the open market conducted a seven-day reverse repurchase operation of RMB 161.2 billion, with the operation rate remaining at 1.4%. Today, RMB 202.5 billion in reverse repos are maturing, resulting in a net withdrawal of RMB 41.3 billion. The central parity rate of the RMB against the USD is reported at 7.1695, up 34 points.

The three major A-share indices showed mixed performance. The Shanghai Composite Index rose slightly by 2 points or 0.08% to close at 3,364 points, with a turnover of RMB 248.3 billion; the Shenzhen Component Index fell by 19 points or 0.2% to close at 10,032 points, with a turnover of RMB 422.7 billion; the ChiNext Index dropped by 11 points or 0.6% to close at 2,015 points, with a turnover of RMB 213.9 billion.

Banking stocks such as China Construction Bank (601939.SH) and Industrial and Commercial Bank of China (601398.SH) rose by 0.3% and 0.4%, respectively. Hangzhou Bank (600926.SH) increased by 2.8%. Additionally, BYD (002594.SZ) rose slightly by 0.2%. Contemporary Amperex Technology Co., Limited (300750.SZ) fell by 0.8%.

Oil and gold stocks were soft, with PetroChina (601857.SH) and CNOOC (600938.SH) down by 1.5% and 1%, respectively. Shandong Gold (600547.SH), Zhongjin Gold (600489.SH), and Chifeng Jilong Gold Mining (600988.SH) fell by 1%-2.4%.

Innovative drug concept stocks rose, with Science Sun Pharm (300485.SZ) and Angellist (002940.SZ) both hitting the daily limit