The three major A-share indices in Shanghai and Shenzhen fell by 0.4% to 1% in the first half of the day, with chip stocks showing weakness and computing power leasing concept stocks giving back gains

The central parity rate of the RMB against the US dollar was raised by 56 points to 7.0064 per US dollar, reaching a new high since May 18, 2023.

The People's Bank of China today (15th) conducted a seven-day reverse repurchase operation of RMB 179.3 billion in the open market, with the operation rate remaining at 1.4%. Today, RMB 4 billion in reverse repos matured, resulting in a net injection of RMB 175.3 billion for the day. On the same day, the central bank will conduct a reverse repurchase operation of RMB 900 billion.

The Shanghai and Shenzhen North Exchanges raised the financing margin ratio yesterday. The three major A-share indices opened lower this morning and fluctuated downward. The Shanghai Composite Index closed at 4,101 points at noon, down 24 points or 0.6%, with a turnover of RMB 746.05 billion; the Shenzhen Component Index closed at 14,186 points, down 62 points or 0.4%, with a turnover of RMB 1.13 trillion; the ChiNext Index closed at 3,314 points, down 34 points or 1%, with a turnover of RMB 531.25 billion.

Banking stocks showed mixed results, with Industrial and Commercial Bank of China (601398.SH) rising 0.3% and China Construction Bank (601939.SH) falling 0.1%. CITIC Securities (600030.SH) rose 0.2%, with its earnings report indicating a 38.5% year-on-year increase in net profit to RMB 30.051 billion last year. CITIC Bank (601998.SH) rose 0.8%, with its earnings report showing a net profit of RMB 70.618 billion last year, a year-on-year growth of 2.98%.

Chip stocks were weak, with SMIC A (688981.SH) and Hua Hong (688347.SH) falling 1.5% and 0.6%, respectively. AI chip stock Cambricon (688256.SH) fell 3%. Domestic GPU stocks, including Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH), each fell over 3%.

Computing power leasing concept stocks retreated, with Hongjing Technology (301396.SZ), Tongniu Information (300895.SZ), and Zhongfutong (300560.SZ) falling between 5.4% and 6.7%.

SUNFLOWER (300111.SZ) hit the daily limit down. SUNFLOWER is under investigation by the China Securities Regulatory Commission for suspected violations of information disclosure laws. The company stated that its production and operational activities are currently proceeding normally and orderly, and the investigation will not have a significant impact on its daily production, operations, and management.

WISCO Development (600058.SH) plans to conduct an asset swap with its controlling shareholder and has resumed trading with a limit-up. Unisoc (002049.SZ) plans to acquire 100% equity of Ruineng Semiconductor and has also resumed trading with a limit-up.

In addition, CATL (300750.SZ) closed near flat at noon. BYD (002594.SZ) fell 0.3%