The three major A-share indices of Shanghai and Shenzhen showed mixed performance throughout the day, with the ChiNext index retreating by 2.2%. Industrial and Commercial Bank of China supported the Shanghai Composite Index's steady rise, while CICC resumed trading and rose by 3.7%

AASTOCKS
2025.12.18 07:06

The central parity rate of the RMB against the US dollar was lowered by 10 points to 7.0583 per US dollar. The People's Bank of China today (18th) conducted a seven-day reverse repurchase operation of 88.3 billion RMB in the open market, with the operation rate remaining at 1.4%. After nearly three months, the 14-day reverse repurchase operation was restarted, involving 100 billion RMB. Today, 118.6 billion RMB of reverse repos matured, resulting in a net injection of 69.7 billion RMB for the day.

The three major A-share indices opened lower and fluctuated individually, with the ChiNext index retreating over 2%. The Shanghai Composite Index closed up 6 points or 0.2% at 3,876 points, with a turnover of 704.9 billion RMB. The Shenzhen Component Index closed down 170 points or 1.3% at 13,053 points, with a turnover of 950.6 billion RMB. The ChiNext index closed down 68 points or 2.2% at 3,107 points, with a turnover of 444.4 billion RMB.

Domestic bank stocks supported the Shanghai index, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) rising 2.3% and 2.6%, respectively.

CICC (601995.SH) resumed trading today and hit the daily limit, but the gains gradually narrowed, closing up only 3.7% for the day. The company plans to absorb and merge Dongxing Securities and Cinda Securities through a share swap. Other brokerage stocks were weak, with Bank of China Securities (601696.SH) and CITIC Securities (601066.SH) falling 4.8% and 3%, respectively. Domestic property stock Vanke A (000002.SZ) retreated 1.8%.

Leading chip stocks in mainland China softened, with SMIC (688981.SH) and Hua Hong (688347.SH) down 0.4% and 1.7%, respectively. Cambrian (688256.SH) also fell 2.2%. Computing power concept stock Changfei Fiber (601869.SH) continued to hit the daily limit.

In addition, CATL (300750.SZ) and BYD (002594.SZ) fell 3% and 1.8%, respectively

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