The three major A-share indices of Shanghai and Shenzhen fell in the first half of the day, with the ChiNext dropping 1.5%. Domestic property stocks weakened, and SMIC and Hua Hong showed a bearish trend

To promote the development of the foreign exchange market and support enterprises in managing exchange rate risks, the People's Bank of China has decided to lower the foreign exchange risk reserve ratio for forward foreign exchange sales from 20% to zero starting next Monday (March 2). The offshore renminbi against the US dollar quickly fell by more than 100 points. The central parity rate of the renminbi against the US dollar is reported at 6.9228, unchanged from the previous day.

Today (27th), the People's Bank of China conducted a seven-day reverse repurchase operation in the open market amounting to 269 billion yuan, with the operation rate remaining at 1.4%. There are no reverse repos maturing today, resulting in a net injection of 269 billion yuan for the day.

The three major A-share indices declined. The Shanghai Composite Index closed at 4,139 points, down 7 points or 0.2%, with a turnover of 674.3 billion yuan; the Shenzhen Component Index closed at 14,405 points, down 98 points or 0.7%, with a turnover of 910.8 billion yuan; the ChiNext Index closed at 3,296 points, down 48 points or 1.5%, with a turnover of 428.85 billion yuan.

Banking stocks showed mixed performance, with Industrial and Commercial Bank of China (601398.SH) down 0.7% and China Construction Bank (601939.SH) up 0.1%. Additionally, Contemporary Amperex Technology Co., Limited (300750.SZ) fell 0.6%. BYD Company Limited (002594.SZ) dropped 0.7%.

Real estate stocks weakened, with I Love My Family (000560.SZ), Urban Investment Holdings (600649.SH), and China Fortune Land Development (600340.SH) falling between 1.2% and 2.5%. Leading stock Vanke (000002.SZ) also declined by 0.4%.

Fiberglass concept stocks were under pressure, with Honghe Technology (603256.SH) and International Composites (301526.SZ) each dropping by 10%.

In the semiconductor sector, SMIC (688981.SH) A-shares and Hua Hong (688347.SH) A-shares saw declines of 1.4% and 2.5%, respectively. AI chip stock Cambricon Technologies (688256.SH) rebounded by 1.2%. Chipone Technology (688521.SH) opened low but rose by 5.6%, with its revenue last year growing by 35.77% year-on-year, and losses continuing to narrow to 528 million yuan. Computing power leasing stock Chengdi Xiangjiang (603887.SZ) hit the daily limit