The three major A-share indices of Shanghai and Shenzhen opened lower by 0.2%-0.6%, with a preference for oil stocks and weakness in chip stocks

The central parity rate of the RMB against the US dollar is reported at 6.8880, an increase of 145 points from the previous day.

The People's Bank of China today (2nd) conducted a 500 million RMB (same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 224 billion RMB of reverse repos are maturing, resulting in a net withdrawal of 223.5 billion RMB for the day.

With the conflict between the US and Iran ongoing, the three major A-share indices opened lower. The SSE Index opened at 3,940 points, down 7 points or 0.2%. The Shenzhen Component Index opened at 13,658 points, down 48 points or 0.4%. The ChiNext Index opened at 3,229 points, down 17 points or 0.6%.

In the banking sector, Industrial and Commercial Bank of China (601398.SH) opened down 0.1%. China Construction Bank (601939.SH) opened flat. Additionally, Contemporary Amperex Technology Co., Limited (300750.SZ) opened up 0.5%. BYD (002594.SZ) opened down 0.2%.

International oil prices remain high, with PetroChina (601857.SH) and CNOOC (600938.SH) opening up 1% and 1.5%, respectively.

Chip stocks are soft, with Semiconductor Manufacturing International Corporation (688981.SH) opening down 0.9%. Hua Hong Semiconductor (688347.SH) opened down 1.7%. AI chip stock Cambricon Technologies (688256.SH) also opened down 0.6%. Domestic GPU stocks Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH) opened down 0.5% and 1%, respectively