The three major A-share indices of Shanghai and Shenzhen opened lower by 0.5% to 0.8%, with real estate and chip stocks showing weakness
The People's Bank of China today (24th) conducted a seven-day reverse repurchase operation of 401.5 billion yuan (the same below) in the open market, with the operation rate remaining at 1.4%. Today, 418.5 billion yuan of reverse repos are maturing, resulting in a net withdrawal of 17 billion yuan. The central parity rate of the yuan against the US dollar was lowered by 20 points to 7.1077.
The three major indices of A-shares opened lower. The Shanghai Composite Index opened at 3,804 points, down 17 points or 0.5%. The Shenzhen Component Index opened at 13,037 points, down 82 points or 0.6%. The ChiNext Index opened down 24 points or 0.8%, at 3,089 points.
Domestic bank stocks, Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH), opened down 0.1% and 0.2%, respectively. In addition, Contemporary Amperex Technology Co., Limited (300750.SZ) opened up 0.8%. BYD (002594.SZ) opened down 0.6%.
Leading domestic property stocks continued to be weak, with Gemdale (600383.SH), Greenland (600606.SH), PDH (600048.SH), China Fortune Land Development (600340.SH), and Vanke (000002.SZ) opening down 0.5%-1.4%.
SMIC (688981.SH) and Hua Hong Semiconductor (688347.SH) opened down 1.3% and 1%, respectively. Technology stock Cambricon Technologies (688256.SH) opened down 1.5%.
Robot concept stocks showed mixed performance, with Sanhua Intelligent Control (002050.SZ) opening down 2.3%. Wanxiang Qianchao (000559.SZ) opened up 3.4%