The Shanghai and Shenzhen A-shares resume trading today after the Spring Festival holiday, with the three major indices opening higher by 1.2%-1.7%. Gold and chip stocks are rising

AASTOCKS
2026.02.24 01:30

The People's Bank of China today (24th) conducted a 526 billion yuan (the same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 1.45 trillion yuan of reverse repos are maturing, resulting in a net withdrawal of 926.4 billion yuan for the day. On the same day, the one-year and five-year Loan Prime Rates (LPR) for February were announced to remain at 3% and 3.5%, respectively, in line with market expectations, marking nine consecutive months of stability.

The central parity rate of the yuan against the US dollar was reported at 6.9414, a decrease of 16 points from the previous day.

Today marks the first trading day after the Spring Festival holiday. The three major A-share indices opened higher in the red. The Shanghai Composite Index opened at 4,129 points, up 1.2% or 47 points. The Shenzhen Component Index opened at 14,313 points, up 213 points or 1.5%. The ChiNext Index opened at 3,331 points, up 55 points or 1.7%.

Domestic bank stocks, Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH), both opened 0.3% higher. In addition, CATL (300750.SZ) opened 2% higher. BYD (002594.SZ) opened 1.9% higher.

Gold-related stocks rose, with SD-GOLD (600547.SH), Chifeng Jilong Gold Mining (600988.SH), ZHONGJIN GOLD (600489.SH), and Zhaojin Mining (000506.SZ) opening 4% to 5% higher.

Chip-related stocks were favored, with SMIC (688981.SH) A-shares opening 0.9% higher. AI chip stock Cambricon (688256.SH) rose 1.4%. Hua Hong (688347.SH) A-shares opened 0.2% higher. Domestic GPU stocks, Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH), opened 1.4% and 1.8% higher, respectively.

Film and television stocks fell, with Hengdian Film (603103.SH) and China Film (600977.SH) both hitting the daily limit down. Shanghai Film (601595.SH) opened 5.5% lower

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