The three major A-share indices in Shanghai and Shenzhen fell by 0.7%-1.4% throughout the day, with the Shanghai Composite Index falling below 3,900 points. Real estate stocks weakened, and ZTE hit the daily limit down

The central parity rate of the RMB against the US dollar was raised by 67 points to 7.0686 per US dollar. The People's Bank of China today (11th) conducted a seven-day reverse repurchase operation of RMB 118.6 billion in the open market, with the operation rate remaining at 1.4%. Today, RMB 180.8 billion in reverse repos matured, resulting in a net withdrawal of RMB 62.2 billion for the day.

The three major indices of A-shares opened lower and continued to decline, with the Shanghai Composite Index closing below 3,900 points, down over 1%. The Shanghai Composite Index fell by 27 points or 0.7% to 3,873 points, with a turnover of RMB 76.435 billion. The Shenzhen Component Index fell by 169 points or 1.3% to 13,147 points, with a turnover of RMB 1.09 trillion. The ChiNext Index fell by 45 points or 1.4% to 3,163 points, with a turnover of RMB 51.32 billion.

In the banking sector, Industrial and Commercial Bank of China (601398.SH) rose by 0.8%, while China Construction Bank (601939.SH) fell by 0.7%. Additionally, Contemporary Amperex Technology Co., Limited (300750.SZ) rose by 1.7%, while BYD Company Limited (002594.SZ) fell by 0.3%.

ZTE Corporation (000063.SZ) hit the daily limit down, stating its opposition to all forms of corruption and is in communication with the U.S. Department of Justice regarding related matters.

Leading domestic property stocks declined, with Greenland Holdings (600606.SH), Poly Developments and Holdings (600048.SH), China Jinmao Holdings Group Limited (600383.SH), and Vanke A (000002.SZ) falling by 3.4%-4.5%.

Several local stocks in Fujian retreated, including Anji Food (603696.SH) and Shuhua Sports (605299.SH), both hitting the daily limit down.

Lens Technology (300433.SZ) rose against the trend by 6%, as the company plans to acquire 100% equity of Peimei Gao International Limited to explore new tracks in AI computing power infrastructure.

Leading chip stocks in the mainland were soft, with Semiconductor Manufacturing International Corporation (688981.SH) and Hua Hong Semiconductor (688347.SH) falling by 2.3% and 4.1%, respectively. Cambrian (688256.SH) also fell by 2.7%