<div id="readability-page-1"><div>The market is awaiting a meeting between Chinese and US leaders. The RMB central parity against USD was set at 6.8431, down 5 bps MoM. The People's Bank of China conducted a RMB500 million seven-day reverse repo operation in the open market today (13th), with the operation rate unchanged at 1.4%. Meanwhile, RMB26 billion of reverse repos matured, resulting in a net daily liquidity withdrawal of RMB25.5 billion. The three major A-share indices opened 0.5% to 0.9% lower, but rebounded across the board near midday, gaining 0.1% to 0.4% at the half-day close.The Shanghai Composite Index rose 3 points or 0.1% to 4,218, with turnover of RMB885.472 billion. The Shenzhen Component Index gained 56 points or 0.4% to 15,881, with turnover of RMB1.09 trillion. The ChiNext Index added 11 points or 0.3% to 3,946, with turnover of RMB506.47 billion.Mainland banking stocks were generally soft. ICBC (601398.SH) -0.070 (-0.958%) fell nearly 1%, while CCB (601939.SH) -0.040 (-0.415%) declined 0.4%. Insurer CHINA PACIFIC INSURANCE (601601.SH) -1.650 (-4.433%) dropped 4.4%. In addition, BYD Company (002594.SZ) -1.310 (-1.320%) slipped 1.3%, and CONTEMPORARY AMPEREX (300750.SZ) -2.970 (-0.689%) edged down 0.7%.Among chip stocks, SMIC (688981.SH) -3.230 (-2.648%) and HUA HONG (688347.SH) -1.180 (-0.734%) fell 2.7% and 0.7%, respectively. AI chip maker CAMBRICON (688256.SH) +19.470 (+1.524%) rose 1.5%. Domestic GPU makers METAX (688802.SH) -2.650 (-0.341%) and MOORE THREADS (688795.SH) -8.950 (-1.248%) declined 0.3% and 1.3%, respectively. LQKJ (688008.SH) +8.370 (+3.477%) advanced 3.5%. Fiber optic maker YANGTZE OPTICAL FIBRE (601869.SH) -4.460 (-1.084%) dropped 1.1%.VANKE A (000002.SZ) -0.110 (-2.683%) secured up to RMB2.5 billion in loans from Shenzhen Metro again, but its share price fell 2.7%. (jl/u)(A Shares quote is delayed for at least 15 mins.)</div></div>

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The Shanghai and Shenzhen A-share indices gained between 0.1% and 0.4% at midday, recovering from earlier losses. The Shanghai Composite Index rose to 4,218, while the Shenzhen Component Index reached 15,881. However, CHINA PACIFIC INSURANCE saw a significant drop of over 4%. The market is closely watching an upcoming meeting between Chinese and US leaders, with the RMB central parity against the USD set at 6.8431. The People's Bank of China conducted a reverse repo operation, resulting in a net liquidity withdrawal of RMB25.5 billion.

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SSE Index

CPIC

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BYD COMPANY

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SMIC

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Montage Technology

YOFC

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CHINA VANKE

BYD HK SDR 10to1

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BYD Company Limited

BYD COMPANY-R

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Shanghai & Shenzhen A-shares' Three Major Indices Gain 0.1% to 0.4% at Midday; CHINA PACIFIC INSURANCE  Slumps Over 4%