Shanghai & Shenzhen Markets Rise; SHCOMP Reclaims 4,100, ChiNext +2.5%; PING AN OF CHINA and BYD Company Advance Post Results; Nonferrous Metals and Copper Foil Stocks Rally in PM

The RMB central parity against the USD was set at 6.8608, down 19 bps MoM. The PBOC conducted RMB25.9 billion of seven-day reverse repos in the open market today (29th) at an unchanged rate of 1.4%. With RMB6 billion maturing today, the net single-day injection was RMB19.9 billion.The three major A-share indices opened lower but closed higher, with gains expanding in the afternoon. The Shanghai Composite Index reclaimed 4,100 and the ChiNext Index surged 2.5%. The Shanghai Composite closed at 4,107, up 28 points or 0.7%, with turnover of RMB1.13 trillion. The Shenzhen Component Index closed at 15,120, up 290 points or 2%, with turnover of RMB1.46 trillion. The ChiNext Index closed at 3,687, up 90 points or 2.5%, with turnover of RMB679.4 billion.Banking stocks were mixed. ICBC (601398.SH) -0.060 (-0.797%) fell 0.8%, while CCB (601939.SH) +0.010 (+0.102%) edged up 0.1%. CMB (600036.SH) -1.100 (-2.778%) dropped 2.8% after reporting 1Q net profit of RMB37.852 billion, up 1.52% YoY. PING AN OF CHINA (601318.SH) +1.800 (+3.123%) rose 3.1%. Its 1Q net profit fell 7.4% YoY to RMB25.022 billion, while operating profit increased 7.6% YoY.BYD Company (002594.SZ) +3.920 (+3.863%) gained 3.9%. Its 1Q net profit declined 55.4% YoY to RMB4.085 billion. CONTEMPORARY AMPEREX (300750.SZ) +17.330 (+4.052%) climbed 4.1%.Leading property developers performed strongly. VANKE A (000002.SZ) +0.120 (+3.200%) rose 3.2%, GREENLAND HOLDINGS (600606.SH) +0.130 (+9.701%) jumped 9.7%, and GEMDALE (600383.SH) +0.170 (+6.296%) advanced 6.3%.CNOOC (600938.SH) +0.180 (+0.453%) added 0.5% after posting 1Q net profit of RMB39.14 billion, up 7.1% YoY. SINOPEC (600028.SH) +0.070 (+1.308%) rose 1.3% with 1Q net profit of RMB17.006 billion, up 28.2% YoY. YANKUANG ENERGY (600188.SH) +1.710 (+7.968%) surged 8% after its 1Q net profit increased 42.1% YoY to RMB3.955 billion.Copper foil and nonferrous metal stocks strengthened. TONGGUAN COPPER FOIL (301217.SZ) +11.830 (+20.000%) hit limit-up. EM TECHNOLOGY (601208.SH) +3.070 (+8.626%) rose 8.6%, and JIAYUAN TECHNOLOGY (688388.SH) +2.490 (+5.122%) gained 5.1%. CHINA TUNGSTEN HIGHTECH (000657.SZ) +5.210 (+10.000%) and XIANGLU TUNGSTEN (002842.SZ) +3.180 (+9.997%) both hit limit-up, with the latters 1Q net profit surging more than 29x YoY.Rare earth permanent magnet concept stocks rallied. CHINA RARE EARTH (000831.SZ) +4.910 (+9.996%) and CNREHT (600111.SH) +4.630 (+9.996%) hit limit-up, while CHINA RARE NONFERROUS (600259.SH) +7.670 (+8.919%) rose 8.9%.Memory chip and computing power leasing concept stocks were active. HANGJIN TECHNOLOGY (000818.SZ) +1.400 (+9.986%) hit limit-up. TOYOU ELECTRONICS (300302.SZ) +3.120 (+12.235%) and S-KING (688328.SH) +5.080 (+10.292%) surged 12.2% and 10.3%, respectively. LETTALL ELECTRONIC (603629.SH) +11.940 (+10.004%) hit limit-up for a second consecutive day, reaching a record high. ANYSOFT INFORMATION (300571.SZ) +3.600 (+9.254%) gained 9.3%.Chip-related stocks were broadly lower. SMIC (688981.SH) -1.530 (-1.342%) A-shares fell 1.3%, and HUA HONG (688347.SH) -5.920 (-4.287%) A-shares dropped 4.3%. Domestic GPU makers METAX (688802.SH) -10.650 (-1.471%) and MOORE THREADS (688795.SH) -18.880 (-2.665%) declined 1.5% and 2.7%, respectively. LQKJ (688008.SH) -3.710 (-2.137%) slipped another 2.1%, while AI chipmaker CAMBRICON (688256.SH) +42.130 (+3.065%) rose 3.1%.CANSINO (688185.SH) -2.690 (-4.076%) fell 4.1% as its 1Q net loss widened to RMB40.4243 million. TIGERMED CONSULTING (300347.SZ) -2.010 (-3.442%) dropped 3.4% after its 1Q net profit decreased 70.4% YoY. PHARMARON (300759.SZ) -1.170 (-3.784%) declined 3.8% despite a 9.7% YoY rise in 1Q net profit.IFLYTEK (002230.SZ) -1.110 (-2.257%) slid 2.3%, with 1Q loss narrowing to RMB170 million. FOXCONN INDUSTRIAL INTERNET (601138.SH) -1.940 (-2.845%) fell 2.8% even as its 1Q net profit surged 102.55% YoY to RMB10.595 billion.WULIANGYE (000858.SZ) -1.860 (-1.856%) postponed the disclosure of its 2025 annual report and 1Q26 report, sending its shares down 1.9%.ZHONGJIAN TECHNOLOGY (002779.SZ) -8.410 (-10.005%) received a warning letter and was placed under investigation by the CSRC, with its shares falling to limit-down again. (ta/da)(A Shares quote is delayed for at least 15 mins.)This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation.