The three major A-share indices of the Shanghai and Shenzhen stock exchanges had mixed performances throughout the day, with the ChiNext falling by 1%. Chip stocks were relatively weak, while non-ferrous metals, chemicals, and fiberglass stocks saw a surge
The central parity rate of the RMB against the US dollar was raised by 20 points to 6.9438 per US dollar, reaching a new high since May 11, 2023. The People's Bank of China today (11th) conducted a 7-day reverse repurchase operation of 78.5 billion RMB in the open market, with the operation rate remaining at 1.4%; it also conducted a 14-day reverse repurchase operation of 400 billion RMB. Today, 75 billion RMB of reverse repos matured, resulting in a net injection of 403.5 billion RMB for the day.
Last month, the CPI data in mainland China was below expectations, while the PPI data exceeded expectations. The three major A-share indices developed differently, with the Shanghai Composite Index steady and the ChiNext Index down 1%. The Shanghai Composite Index rose 3 points or 0.09% for the day, closing at 4,131 points with a turnover of 82.26 billion RMB. The Shenzhen Component Index fell 49 points or 0.4%, closing at 14,160 points with a turnover of 1.16 trillion RMB. The ChiNext Index fell 35 points or 1%, closing at 3,284 points with a turnover of 56.03 billion RMB.
Major domestic bank stocks, Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH), each fell by 0.1%. In addition, CATL (300750.SZ) rose by 0.8%. BYD (002594.SZ) rose by 1.6%.
Stocks in non-ferrous metals, chemicals, and fiberglass surged, with Shandong Glass Fiber (605006.SH), China Jushi (600176.SH), China Tungsten High-Tech (000657.SZ), and Hualu Tianlong (001217.SH) all hitting the daily limit.
Film and television stocks corrected, with Wanda Film (002739.SZ) and Hengdian Film (603103.SH) both hitting the daily limit down. China Film (600977.SH) and Shanghai Film (601595.SH) each fell by over 9%.
Chip-related stocks were soft, with SMIC A (688981.SH) down 1%, its net profit for the fourth quarter of 2025 down 9.9% quarter-on-quarter but up 60.7% year-on-year. AI chip stock Cambricon (688256.SH) fell by 2%. Moore Threads (688795.SH) open-sourced TileLang-MUSA, with its stock price down 1.6%
