The three major A-share indices in Shanghai and Shenzhen fell by 0.2% to 0.3% throughout the day, with trading volume in Shanghai and Shenzhen exceeding 3 trillion yuan again. Robotics and commercial aerospace concept stocks rose against the trend

The People's Bank of China has decided to lower the re-lending and rediscount rates by 0.25 percentage points starting next Monday (19th). After the adjustment, the re-lending rates for supporting agriculture and small enterprises for three months, six months, and one year will be 0.95%, 1.15%, and 1.25%, respectively, while the rediscount rate will be 1.5%, the mortgage supplementary loan rate will be 1.75%, and the rate for special structural monetary policy tools will be 1.25%. At the same time, the rates for various structural monetary policy tools will also be lowered by 0.25 percentage points. PBOC Vice Governor Zou Lan emphasized that there is still room for further reserve requirement ratio and interest rate cuts this year.

The central parity rate of the RMB against the US dollar was lowered by 14 points to 7.0078 per US dollar. Today (16th), the People's Bank of China conducted a seven-day reverse repurchase operation of 86.7 billion yuan in the open market, with the operation rate remaining at 1.4%. Today, 34 billion yuan of reverse repos are maturing, resulting in a net injection of 52.7 billion yuan for the day.

The three major A-share indices opened higher but fluctuated individually, with domestic bank and insurance stocks dragging down the Shanghai Composite Index, which showed a soft trend, while the ChiNext performed strongly, rising over 1%. The trading volume in the Shanghai and Shenzhen markets exceeded 3 trillion yuan.

The Shanghai Composite Index fell by 10 points or 0.3% to 4,101 points, with a turnover of 1.34 trillion yuan. The Shenzhen Component Index closed down 25 points or 0.2% to 14,281 points, with a turnover of 1.69 trillion yuan. The ChiNext Index closed down 6 points or 0.2% to 3,361 points, with a turnover of 839.2 billion yuan.

Domestic bank and insurance stocks were soft, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) each falling by 0.9%. Ping An Insurance (601318.SH), China Life (601628.SH), and China Pacific Insurance (601601.SH) fell between 1.6% and 2.7%.

The People's Bank of China, in conjunction with the Financial Regulatory Administration, will lower the minimum down payment ratio for commercial property loans to 30% to support the destocking of the commercial real estate market. However, leading domestic property stocks showed weak performance, with China Vanke (000002.SZ), China Overseas Land & Investment (600048.SH), and Greenland Holdings (600606.SH) falling between 1.8% and 2.5%.

The State Grid's "14th Five-Year" investment plan has recently been released, expecting fixed asset investment to reach 4 trillion yuan, a 40% increase compared to the investment during the "13th Five-Year" period, to expand effective investment and promote the high-quality development of the new power system industry chain. Grid stocks or power equipment-related stocks generally rose, with China Power Construction (601669.SH) up 7.8%, China Energy Engineering (601868.SH), State Grid Yingda (600517.SH), and Baobian Electric (600550.SH) rising between 2.9% and 4.6%.

Robot concept stocks surged, with Wuzhou Xinchun (603667.SH) hitting the daily limit. Lide Huanbo (688017.SH) and Buke Co., Ltd. (688160.SH) rose by 9.8% and 7.1%, respectively Commercial aerospace concept stocks rebounded, with Aerospace Hongtu (688066.SH), Taili Technology (301595.SZ), and Xinke Mobile (688387.SH) rising by 6.2% to 11.5%.

Chip stocks steadily increased, with SMIC A (688981.SH) and Hua Hong (688347.SH) rising by 2.1% and 6.9%, respectively. AI chip stock Cambricon (688256.SH) rose by 0.6%.

In addition, CATL (300750.SZ) fell by 0.4%. BYD (002594.SZ) rose by 0.2%