The three major indices of A-shares in Shanghai and Shenzhen all fell, with the Shanghai Composite Index losing the 3,900-point mark, the ChiNext Index dropping 2.7%. The four major domestic banks rose against the trend, while Dongpeng Beverage hit the daily limit down at the close

The central parity rate of the RMB against the US dollar is reported at 6.9194, an increase of 29 points from the previous day. The People's Bank of China today (31st) conducted a 32.5 billion RMB (same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 17.5 billion RMB of reverse repos are maturing, resulting in a net injection of 15 billion RMB for the day.

The official manufacturing PMI and non-manufacturing PMI in mainland China for March rebounded, both exceeding market expectations. The three major A-share indices gradually declined. The Shanghai Composite Index fell 31 points or 0.8% to close at 3,891 points, with a turnover of 89.195 billion RMB. The Shenzhen Component Index fell 248 points or 1.8% to 13,478 points, with a turnover of 1.1 trillion RMB. The ChiNext Index fell 88 points or 2.7% to 3,184 points, with a turnover of 474 billion RMB.

Banking stocks performed well against the market trend, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) rising 0.9% and 1.5%, respectively. Agricultural Bank of China (601288.SH) rose 3.2%, with its last year's earnings attributable to shareholders growing by 3.18% year-on-year, and a dividend of 0.13 RMB. Bank of China (601988.SH) rose 3.5%, with its last year's earnings attributable to shareholders growing by 2.18% year-on-year, and a final dividend of 0.1169 RMB, a year-on-year decrease of 3.87%.

Oil, gas, and coal stocks weakened, with Zhongman Petroleum (603619.SH) falling 2.6%. Shandong Molong (002490.SZ) fell about 3%. Liaoning Energy (600758.SH) and Yunnan Coal Energy (600792.SH) each dropped 8.4%.

Chip stocks weakened, with Semiconductor Manufacturing International Corporation (688981.SH) A shares falling 1.9%. Hua Hong Semiconductor (688347.SH) A shares fell 4.4%. AI chip stock Cambricon (688256.SH) also fell 2.6%. Domestic GPU stocks MuXi Co., Ltd. (688802.SH) and Moore Threads (688795.SH) fell 4% and rose 0.3%, respectively. Lattice Semiconductor (688008.SH) fell by half, with its net profit attributable to the parent company expected to grow by 58.35% year-on-year in 2025, proposing a dividend of 3.9 RMB per 10 shares.

In the consumer sector, sports concept stocks surged, with Zhongti Industry (600158.SH) and Shuhua Sports (605299.SH) both hitting the daily limit. Some liquor stocks rose, with Kweichow Moutai (600519.SH) up 2.1%. Huangtai Liquor (000995.SZ) rose 3.9%. Midea Group (000333.SZ) rose 5.9%, with its net profit expected to grow by 14.03% year-on-year in 2025, proposing a dividend of 38 RMB per 10 shares, and planning to repurchase company shares for 6.5 billion to 13 billion RMB.

Kanglong Chemical (300759.SZ) rose 4.6%, with its net profit attributable to the parent company expected to decline by 7.22% year-on-year in 2025, proposing a dividend of 2 RMB per 10 shares In addition, CATL (300750.SZ) fell by 2.7%. BYD (002594.SZ) declined by 0.8%.

Dongpeng Beverage (605499.SH) hit the daily limit down at the close, with the company's net profit rising by 32.7%, and it plans to issue 3 additional shares for every 10 shares and distribute 25 yuan