The three major A-share indices in Shanghai and Shenzhen showed a slight decline in the first half of the day, with insurance stocks favoring a pullback in chip stocks
The People's Bank of China today (13th) conducted a 358.6 billion yuan (the same below) seven-day reverse repurchase operation in the open market, with the operation interest rate remaining at 1.4%. Today, 16.2 billion yuan of reverse repos matured, resulting in a net injection of 342.4 billion yuan for the day.
The three major A-share indices opened slightly higher before softening, with the Shanghai Composite Index slightly down and the ChiNext Index down 0.8%. The trading volume in the Shanghai and Shenzhen markets increased for the half-day. The Shanghai Composite Index closed at 4,163 points, down 1 point or 0.03%, with a transaction amount of 977.8 billion yuan; the Shenzhen Component Index closed at 14,321 points, down 45 points or 0.3%, with a transaction amount of 1.47 trillion yuan; the ChiNext Index closed at 3,360 points, down 28 points or 0.8%, with a transaction amount of 729.8 billion yuan.
Domestic bank stocks were favored, with ICBC (601398.SH) and CCB (601939.SH) rising 0.9% and 0.1%, respectively. Domestic insurance stocks performed well, with Ping An (601318.SH) and China Life (601628.SH) rising 1.6% to 3%. Brokerage stocks saw Huayin Securities (002945.SZ) rise 4.9%.
Chip stocks were slightly weak, with SMIC A (688981.SH) and Hua Hong (688347.SH) down 2.6% and 2.9%, respectively. AI chip stock Cambricon (688256.SH) fell 5.6%. Wentech (600745.SH) dropped 2.3%, as its subsidiary in India, Wentech, has a dispute regarding the asset package transaction with the subsidiary of the trading counterparty. Recently, this dispute has been submitted to the Singapore International Arbitration Centre.
In addition, CATL (300750.SZ) rose 0.2%. BYD (002594.SZ) rose 0.9%. Lithium mining stock Tibet Summit (600338.SH) hit the daily limit. Blue Rocket (301348.SZ) plans to acquire no less than 51% equity in Chengdu Xinyi, expanding into the chip design industry chain, with its stock price rising by 10%
