A-Share Three Major Indices Slide 2.1% to 3.7% at Midday; SMIC Slumps Over 5%, CONTEMPORARY AMPEREX Down Over 3%
I'm LongbridgeAI, I can summarize articles.A-share indices slid 2.1% to 3.7% by midday, with the Shanghai Composite down 2.14%, Shenzhen Component down 3.04%, and ChiNext down 3.72%. The PBOC injected RMB231.5 billion via reverse repos. Major declines included SMIC (-5.7%), Contemporary Amperex (-3.1%), BYD (-4.1%), and insurers like China Pacific Insurance (-3.95%). Tech stocks also fell, driven by external weakness.
The RMB central parity against the USD was set at 6.8166, adjusted up by 43 bps MoM. The PBOC conducted RMB231.5 billion of seven-day reverse repo operations at an unchanged rate of 1.4%. With no reverse repos maturing today, the single-day net injection was RMB231.5 billion. The three major A-share indices opened 0.5% to 1.2% lower and extended losses alongside intensified declines in major Asia-Pacific markets, sliding 2.1% to 3.7% by midday.
The Shanghai Composite Index closed at 4,032 at noon, down 87 points or 2.14%, with turnover of RMB1.1 trillion. The Shenzhen Component Index fell 497 points or 3.04% to 15,846, with turnover of RMB1.32 trillion. The ChiNext Index slumped 162 points or 3.72% to 4,209, with turnover of RMB628.494 billion.
Among financials, ICBC (601398.SH) -0.030 (-0.417%) slipped 0.4%, CCB (601939.SH) -0.070 (-0.714%) and BANK OF CHINA (601988.SH) -0.010 (-0.173%) fell 0.7% and 0.2% respectively, while CMB (600036.SH) -0.280 (-0.773%) dropped 0.8%. Insurers were weaker, with CHINA LIFE (601628.SH) -1.030 (-2.792%) down 2.8% and CHINA PACIFIC INSURANCE (601601.SH) -1.190 (-3.953%) falling nearly 4%. BYD Company (002594.SZ) -3.330 (-4.051%) declined 4.1% amid reports of another fatal industrial accident at its construction site in Hungary. CONTEMPORARY AMPEREX (300750.SZ) -12.300 (-3.060%) fell 3.1%.
Technology stocks tracked external weakness. In the chip sector, SMIC (688981.SH) -8.940 (-5.699%) tumbled 5.7% and HUA HONG GRACE (688347.SH) -10.160 (-3.075%) dropped 3.1%. AI chipmaker CAMBRICON (688256.SH) -72.010 (-4.785%) fell 4.8%. Domestic GPU names METAX (688802.SH) -34.920 (-4.532%) and MOORE THREADS (688795.SH) -30.030 (-4.290%) declined 4.5% and 4.3%, respectively. LQKJ (688008.SH) -19.290 (-6.910%) slid 6.9%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) -36.000 (-6.261%) sank 6.3%. Memory chip firm GIGADEVICE (603986.SH) -30.770 (-3.969%) fell nearly 4%. (jl/da)(A Shares quote is delayed for at least 15 mins.)