The three major A-share indices of Shanghai and Shenzhen opened higher by 1.2% to 2.2%, chip stocks rebounded, and oil stocks were slightly weak

AASTOCKS
2026.04.01 01:33

U.S. President Trump will deliver a national address at 9 PM Washington time on Wednesday (1st) to explain the latest developments in the Iran war. Trump previously stated that the U.S. expects to end the Iran war in the coming weeks, as it has basically achieved its military objectives and will leave the task of reopening the Strait of Hormuz to other countries.

The central parity rate of the RMB against the USD is reported at 6.9025, up 169 points from the previous day. The People's Bank of China today conducted a 500 million RMB (same below) seven-day reverse repurchase operation, with the operation rate remaining at 1.4%. Today, 78.5 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 78 billion RMB for the day.

The market is optimistic that the Iran war may end soon, leading to a rebound in the Asia-Pacific market this morning. The three major A-share indices opened higher. The Shanghai Composite Index opened at 3,939 points, up 47 points or 1.2%. The Shenzhen Component Index opened at 13,731 points, up 253 points or 1.9%. The ChiNext Index opened at 3,255 points, up 70 points or 2.2%.

Domestic bank stocks softened, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) opening down 0.5% and 0.7%, respectively. Domestic real estate company Vanke (000002.SZ) opened up 1.3%, with its losses last year widening to 88.556 billion RMB. In addition, CATL (300750.SZ) opened up 2%. BYD (002594.SZ) opened up 0.6%.

Oil stocks were weak, with PetroChina (601857.SH) and CNOOC (600938.SH) opening down 1.5% and 2.3%, respectively.

Chip stocks rose, with SMIC (688981.SH) A-shares opening up 2.5%. Hua Hong (688347.SH) A-shares opened up 3.9%. AI chip stock Cambricon (688256.SH) also opened up 2.5%. Domestic GPU stock Muxi Co., Ltd. (688802.SH) opened up 2.8%. Moore Threads (688795.SH) opened up 2%.

BOE A (000725.SZ) opened up 2.6%, with a projected net profit of 5.857 billion RMB in 2025, a year-on-year increase of 10.03%, and plans to spend 500 million to 1 billion RMB to repurchase A-shares.

Demingli (001309.SZ) opened with a limit up. The company expects a net profit of 3.15 billion to 3.65 billion RMB in the first quarter of 2026, compared to a loss of 69.0877 million RMB in the same period last year

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