SSE Opens Down 3 pts; SMIC and HUA HONG Up 2.6%

The RMB central parity against the USD was set at 6.8415, down 14 bps MoM. The PBOC conducted RMB500 million (RMB, same below) of seven-day reverse repos in the open market today (15th), with the operation rate unchanged at 1.4%. Another RMB500 million of repos matured, resulting in zero net injection and zero net withdrawal for the day. The three major A-share indices showed limited movement at the open.The SSE Composite Index opened down 3 pts, or 0.09%, at 4,174. The Shenzhen Component Index opened up 7 pts, or 0.05%, at 15,753. The ChiNext Index opened up 6 pts, or 0.17%, at 3,957.Among financials, ICBC (601398.SH) -0.050 (-0.685%) opened down 0.1%, while CCB (601939.SH) -0.070 (-0.719%) opened up 0.2%. CHINA PACIFIC INSURANCE (601601.SH) 0.000 (0.000%) opened up 0.3%. BYD Company (002594.SZ) -1.720 (-1.742%) opened down 0.7%, while CONTEMPORARY AMPEREX (300750.SZ) +0.710 (+0.166%) opened up 0.3%.In chip stocks, SMIC (688981.SH) +4.080 (+3.461%) reported first-quarter net profit rising 5% YoY to USD197 million, with its shares opening up 2.6%. HUA HONG (688347.SH) -3.500 (-2.217%) posted first-quarter net profit surging 458.1% YoY to USD20.929 million, with its shares also opening up 2.6%.AI chip stock CAMBRICON (688256.SH) -2.990 (-0.237%) opened down 2%. Domestic GPU makers METAX (688802.SH) -19.580 (-2.643%) and MOORE THREADS (688795.SH) -8.670 (-1.271%) opened down 1.5% and 0.2%, respectively. LQKJ (688008.SH) -0.290 (-0.109%) opened down 0.03%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) -12.240 (-3.024%) opened down 1.2%. (jl/a)(A Shares quote is delayed for at least 15 mins.)