The three major indices of the Shanghai and Shenzhen A-shares opened lower and rose higher, with the ChiNext index up 2.8% in half a day. Chip and lithium mining stocks surged, while Industrial and Commercial Bank of China and China Construction Bank declined

The People's Bank of China today (26th) conducted a seven-day reverse repurchase operation of 213.3 billion yuan (the same below) in the open market, with the operation rate remaining at 1.4%. Today, 310.5 billion yuan of reverse repos are maturing, resulting in a net withdrawal of 97.2 billion yuan for the day.

The three major A-share indices opened slightly lower but rose throughout the day. The Shanghai Composite Index closed at 3,875 points, up 5 points or 0.1%, with a turnover of 440.9 billion yuan; the Shenzhen Component Index closed at 12,982 points, up 205 points or 1.6%, with a turnover of 694.2 billion yuan; the ChiNext Index closed at 3,063 points, up 82 points or 2.8%, with a turnover of 337.7 billion yuan.

Banking stocks fell, limiting the rise of the Shanghai Composite Index, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) down 1.6% and 1.9%, respectively.

The three major oil stocks were soft, with China National Offshore Oil Corporation (600938.SH), PetroChina (601857.SH), and Sinopec (600028.SH) each down about 1%.

Leading chip stocks performed well, with Semiconductor Manufacturing International Corporation (688981.SH) and Hua Hong Semiconductor (688347.SH) up 1.2% and 3.8%, respectively. Technology stock Cambricon (688256.SH) rose 3.3%.

Contemporary Amperex Technology Co., Limited (300750.SZ) rose 0.3%. Lithium mining stocks Ganfeng Lithium (002460.SZ) and Tianqi Lithium (002466.SZ) rose 2.7% and 4.1%, respectively. As for BYD (002594.SZ), it rose 1.2%