A-Share Three Major Indices Gain 0.3%-1.7% at Midday; ZHONGJI INNOLIGHT Rises Over 4%; Computing Power Leasing Concept Stocks Advance
I'm LongbridgeAI, I can summarize articles.A-share indices rose 0.3%-1.7% by midday, driven by computing power and chip sectors. The Shanghai Software Plan boosted computing leasing stocks like CDXJ and INESA-I to limit-up. Chip stocks surged, with SMIC, Hua Hong Grace, and Cambricon gaining over 1-3%. Optical module stocks advanced on rumors of NVIDIA investing in Zhongji Innolight and Eoptolink, while CXMT rose nearly 8%. Conversely, major bank and insurance stocks saw slight declines.
The RMB central parity rate against the USD was set at 6.7882, up 18 bps YoY day, hitting a new high since 8 Feb 2023. The PBOC did not conduct any seven-day reverse repo operations today (12th). With RMB5 billion of reverse repos maturing, the net liquidity withdrawal for the day was RMB5 billion.
The three major A-share indices opened 0.01%-0.2% lower this morning before reversing higher across the board, gaining 0.3%-1.7% by midday.
The Shanghai Composite Index closed the morning session at 3,946, up 12 points or 0.32%, with turnover of RMB630.617 billion. The Shenzhen Component Index rose 178 points or 1.25% to 14,438, with turnover of RMB751.279 billion. The ChiNext Index gained 61 points or 1.73% to 3,610, with turnover of RMB365.213 billion.
Among Chinese bank stocks, ICBC (601398.SH) -0.100 (-1.316%) and CCB (601939.SH) -0.050 (-0.489%) fell 1.3% and 0.5%, respectively, while CMB (600036.SH) -0.340 (-0.873%) dropped 0.9%. Among Chinese insurers, CHINA LIFE (601628.SH) -0.010 (-0.027%) slipped 0.03%, while CHINA PACIFIC INSURANCE (601601.SH) -0.080 (-0.262%) declined 0.3%. In addition, BYD Company (002594.SZ) +0.020 (+0.022%) edged up 0.02%. CONTEMPORARY AMPEREX (300750.SZ) -2.290 (-0.587%) fell 0.6%.
The "Shanghai Software and Information Service Industry Development 15th Five-Year Plan" was released, proposing the development of ultra-large-scale intelligent computing clusters with 100,000-card capacity in Songjiang, Lingang and Qingpu. Computing power leasing concept stocks advanced, with CDXJ (603887.SH) +1.030 (+9.981%) and INESA-I (600602.SH) +1.840 (+9.995%) hitting limit-up at the open.
Among chip stocks, SMIC (688981.SH) +2.030 (+1.619%) rose 1.6%, while HUA HONG GRACE (688347.SH) +8.500 (+3.238%) gained 3.2%. AI chip stock CAMBRICON (688256.SH) +33.360 (+3.059%) climbed 3.1%. Domestic GPU stocks METAX (688802.SH) +15.180 (+2.160%) and MOORE THREADS (688795.SH) +2.040 (+0.357%) rose 2.2% and 0.4%, respectively. LQKJ (688008.SH) +10.310 (+4.988%) gained nearly 5%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) +12.080 (+3.596%) rose 3.6%. Memory chip stock GIGADEVICE (603986.SH) +16.710 (+4.154%) advanced 4.2%. SEMIGHT INSTRUMENTS (688808.SH) +180.670 (+8.762%) surged 8.8%.
Market rumors suggested NVIDIA intends to invest in ZHONGJI INNOLIGHT (300308.SZ) +39.450 (+4.448%) and EOPTOLINK (300502.SZ) +20.600 (+4.960%) . Among the three major optical module players, ZHONGJI INNOLIGHT (300308.SZ) +39.450 (+4.448%) rose 4.5%, while TFC (300394.SZ) +24.410 (+10.971%) and EOPTOLINK (300502.SZ) +20.600 (+4.960%) gained 11% and nearly 5%, respectively.
CXMT (688825.SH) +3.930 (+7.798%) rose 7.8%. (jl/a)(A Shares quote is delayed for at least 15 mins.)