The three major A-share indices of Shanghai and Shenzhen opened lower by 0.2%-0.3%, chip stocks declined, and local stocks in Fujian continued to rise

The central parity rate of the RMB against the US dollar was lowered by 9 points to 7.0773 per US dollar. The People's Bank of China conducted a 117.3 billion RMB (the same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 156.3 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 39 billion RMB for the day.

The three major A-share indices opened lower. The Shanghai Composite Index opened at 3,916 points, down 7 points or 0.2%. The Shenzhen Component Index opened at 13,295 points, down 34 points or 0.3%. The ChiNext Index opened down 6 points or 0.2%, at 3,183 points.

Some domestic banks showed mixed performance, with Industrial and Commercial Bank of China (601398.SH) opening up 0.3% and China Construction Bank (601939.SH) opening down 0.2%. In addition, CATL (300750.SZ) and BYD (002594.SZ) both opened down 0.3%.

Several local stocks in Fujian continued to rise, with ANJI FOOD (603696.SH) rising again by half. Longzhou Co., Ltd. (002682.SZ) rose by 9.6%. SHUHUA SPORTS (605299.SH) rose by 3.9%.

US President Trump stated that he would allow NVIDIA (NVDA.US) to sell AI chips H200 to China, and the stock rose 2% after hours. Leading chip stocks in the mainland were soft, with SMIC (688981.SH) and Hua Hong (688347.SH) opening down 1.4% and 1.6%, respectively. Cambrian (688256.SH) opened down 3%