The three major A-share indices of Shanghai and Shenzhen opened higher by 0.1% to 0.3%, while film and television stocks continued to decline, with Wingtech falling by 2%
The central parity rate of the RMB against the US dollar was lowered by 19 points today, reported at 6.9457 per US dollar. The People's Bank of China today (12th) conducted a 7-day reverse repurchase operation of 166.5 billion RMB (the same below) in the open market, with the operation rate remaining at 1.4%; it also conducted a 14-day reverse repurchase operation of 400 billion RMB. Today, 118.5 billion RMB of reverse repos are maturing, resulting in a net injection of 448 billion RMB for the day.
The three major A-share indices opened higher. The Shanghai Composite Index opened at 4,136 points, up 0.1% or 5 points. The Shenzhen Component Index opened at 14,177 points, up 17 points or 0.1%. The ChiNext Index opened at 3,294 points, up 9 points or 0.3%.
Banking stocks opened flat, with Industrial and Commercial Bank of China (601398.SH) opening unchanged. China Construction Bank (601939.SH) opened down 0.3%. In addition, Contemporary Amperex Technology Co., Limited (300750.SZ) opened up 0.5%. BYD (002594.SZ) opened flat.
Film and television stocks continued to decline, with HENGDIAN ENTERTAINMENT (603103.SH) hitting the daily limit down at the opening. CFG (600977.SH) and SFC (601595.SH) both opened down over 3%.
Chip-related stocks were relatively stable, with SMIC A (688981.SH) opening up 0.5%. AI chip stock Cambricon (688256.SH) opened up 0.1%.
A Dutch court has ordered an investigation into Nexperia, and the Dutch Enterprise Court upheld the status quo ruling. Wingtech (600745.SH) expressed extreme disappointment and strong dissatisfaction with this, with its stock price opening down 2%