The three major indices of the A-shares in Shanghai and Shenzhen opened slightly higher, the three oil giants have not stopped falling, and Shandong Molong dropped 7.8%

The central parity rate of the RMB against the US dollar is reported at 6.8917, an increase of 65 points from the previous day, reaching a nearly three-year high.

The People's Bank of China today (11th) conducted a seven-day reverse repurchase operation of 26.5 billion RMB (same below) in the open market, with the operation rate remaining at 1.4%. Today, 40.5 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 14 billion RMB for the day. The closing meeting of the 14th National Committee of the Chinese People's Political Consultative Conference was held this morning at the Great Hall of the People.

The three major A-share indices opened slightly higher. The Shanghai Composite Index opened at 4,123 points, up 0.01% or less than 1 point. The Shenzhen Component Index opened at 14,373 points, up 19 points or 0.1%. The ChiNext Index opened at 3,281 points, up 12 points or 0.4%.

Banking stocks such as Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) opened flat. In addition, Contemporary Amperex Technology Co., Limited (300750.SZ) opened up 0.9%. BYD Company Limited (002594.SZ) opened down 0.2%.

International oil prices continue to decline sharply, with the three major oil companies not stopping the drop. China National Offshore Oil Corporation (600938.SH), PetroChina (601857.SH), and Sinopec (600028.SH) opened down 0.9% to 1.9%. Oil and gas stocks saw China National Petroleum Corporation (603619.SH) drop another 2%. Shandong Molong (002490.SZ) also fell 7.8%.

In the semiconductor sector, Semiconductor Manufacturing International Corporation (688981.SH) opened flat. Hua Hong Semiconductor (688347.SH) opened up 1.6%. AI chip stock Cambricon Technologies (688256.SH) opened up 0.7%.

TCL Technology Group Corporation (002668.SZ) opened down 2.3%, with a projected net profit growth of 10.22% year-on-year for 2025, proposing a dividend of 2.0379 RMB for every 10 shares.

Tongwei Co., Ltd (600438.SH) plans to acquire 100% equity of Lihau Qingneng, with shares reopening today up 3.1%.

Changling Hydraulic (605389.SH) received a tender offer from Core Wave to acquire 12% of the company's equity, with shares reopening today up 5.6%