The three major A-share indices of Shanghai and Shenzhen opened higher by 0.1% to 0.4%, with commercial aerospace concept stocks surging

China's official manufacturing PMI for November recorded 49.2, and the official non-manufacturing PMI recorded 49.5, both below expectations. The People's Bank of China today (1st) conducted a seven-day reverse repurchase operation in the open market amounting to 107.6 billion yuan (the same below), with the operation rate remaining at 1.4%; additionally, 338.7 billion yuan in reverse repos are maturing, resulting in a net withdrawal of 231.1 billion yuan for the day. The central parity rate of the yuan against the US dollar was adjusted up by 30 points daily, reported at 7.0759 to one dollar.

The three major indices of A-shares opened higher by 0.1% to 0.4%. The Shanghai Composite Index opened up 5 points or 0.1%, reported at 3,894 points. The Shenzhen Component Index opened up 54 points or 0.4%, reported at 13,038 points. The ChiNext Index opened up 7 points or 0.3%, reported at 3,060 points.

Domestic bank stocks Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) opened lower by 0.7% and 0.5%, respectively. In addition, CATL (300750.SZ) opened up 0.4%. BYD (002594.SZ) opened up 0.2%. As for Vanke A (000002.SZ), it opened down 1.5%.

Among leading chip stocks, SMIC (688981.SH) opened down 0.2%, and Hua Hong Semiconductor (688347.SH) opened down 0.8%. Technology stock Cambricon (688256.SH) opened down 0.2%.

Seres (601127.SH) was added to the Hong Kong Stock Connect eligible securities list, with its stock price opening up 0.02%.

Commercial aerospace concept stocks surged, with LKDF (002413.SZ) and Tongyu (002792.SZ) hitting the daily limit up as soon as the market opened. The National Space Administration has recently established a Commercial Aerospace Department, and related businesses are gradually being developed, marking the arrival of a dedicated regulatory body for China's commercial aerospace industry