The three major A-share indices of the Shanghai and Shenzhen stock exchanges fluctuated throughout the day, rising by 0.5%-1.8%. Gold stocks rebounded, while shipping and domestic GPU stocks surged

AASTOCKS
2026.03.24 07:00

U.S. President Trump ordered the U.S. military to postpone the planned strikes on Iran's power plants and energy infrastructure by five days. Israeli media cited official sources further disclosing details, indicating that Washington has set April 9 as the target date for ending the war. The central parity rate of the RMB against the USD was reported at 6.8943, an increase of 98 points from the previous day.

The People's Bank of China today (24th) conducted a seven-day reverse repurchase operation of 17.5 billion RMB in the open market, with the operation rate remaining at 1.4%. Today, 51 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 33.5 billion RMB for the day.

The three major A-share indices showed mixed performance in the morning session, but all rose in the afternoon, with the Shanghai Composite Index rebounding nearly 2%, and the ChiNext Index turning from a 2% decline to an increase.

The Shanghai Composite Index rose 68 points or 1.8% for the day, closing at 3,881 points, with a turnover of 931.4 billion RMB. The Shenzhen Component Index rose 191 points or 1.4%, reporting 13,536 points, with a turnover of 1.15 trillion RMB. The ChiNext Index rose 16 points or 0.5%, closing at 3,251 points, with a turnover of 515.4 billion RMB.

The four major domestic bank stocks stabilized and rose, with Industrial and Commercial Bank of China (601398.SH), China Construction Bank (601939.SH), Bank of China (601988.SH), and Agricultural Bank of China (601288.SH) rising by 0.5%-1.8%. Bank and brokerage stocks attracted funds, with Qingdao Bank (002948.SZ), Jiangsu Bank (600919.SH), Harbin Bank (600864.SH), and First Capital Securities (002797.SZ) rising by 2.9%-7%.

International oil prices fell, with the three major oil companies, CNOOC (600938.SH), PetroChina (601857.SH), and Sinopec (600028.SH) declining by 0.4%-2.8%. Oil and gas stocks saw China National Offshore Oil Corporation (603619.SH) drop by 1.8%. Shandong Molong (002490.SZ) fell by 4.6%.

International gold prices fluctuated and rebounded, with gold-related stocks generally seeing a rebound. Shandong Gold (600547.SH), Zhongjin Gold (600489.SH), and Zhaojin Mining (000506.SZ) rose by 3%-5.6%. Zijin Mining (601899.SH) rose by 5.3%, having repurchased 21 million A-shares through centralized bidding yesterday (23rd), involving approximately 642 million RMB. Chifeng Jilong Gold Mining (600988.SH) continued to decline by 1.7%.

Alibaba's DAMO Academy released the next-generation flagship processor, Xuantie C950. Chip stocks rebounded, with SMIC (688981.SH) A-shares rising by 1.2%. Hua Hong (688347.SH) A-shares rose by 4.2%. AI chip stock Cambrian (688256.SH) rebounded by 5.9%. Domestic GPU stocks surged, with Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH) rising by 13.5% and 8.6%, respectively. Storage chip concept stocks rose in the afternoon, with Yingxin Development (000620.SZ) and Demingli (001309.SZ) rising by 6.6% and 8.9%, respectively Fiber optic concept stock Yangtze Optical Fibre and Cable Joint Stock Limited Company (601869.SH) hit the daily limit.

Shipping stocks strengthened, with China Merchants Energy Shipping Company Limited (601975.SH) and China COSCO Shipping Energy Transportation Co., Ltd. (600026.SH) hitting the daily limit. China Merchants Industry Holdings Co., Ltd. (601872.SH) and Ningbo Marine Shipping Co., Ltd. (600798.SH) rose by 6.5% and 7.9%, respectively.

In addition, Contemporary Amperex Technology Co., Limited (300750.SZ) opened high but closed low, falling by 1.2%. BYD Company Limited (002594.SZ) also fell by 0.9%. Some lithium mining stocks performed well, with Rongjie Co., Ltd. (002192.SZ) and Guocheng Mining Co., Ltd. (000688.SZ) both hitting the daily limit.

WuXi AppTec A shares (603259.SH) opened high and rose by 6.7%, with last year's operating income growing by 15.84% year-on-year; the net profit attributable to shareholders of the listed company increased by 102.65% year-on-year. It is expected that this year's total revenue will reach 51.3 billion to 53 billion yuan, with revenue from continuing operations achieving a rapid year-on-year growth of 18% to 22%

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