A-Share Three Major Indices Fall 0.8%-1% at Midday; Domestic GPU Stocks Rise Against Market Trend
I'm LongbridgeAI, I can summarize articles.A-share indices fell 0.8%-1% by midday, with the Shanghai Composite breaking below 4,000 points. While banking and insurance stocks declined, domestic GPU stocks surged against the trend, led by Metax (+15.6%) and Moore Threads (+6%). Chipmakers like SMIC and Hua Hong Grace also rose. Conversely, precious metals weakened significantly, and BYD dropped 1.4%. The PBOC conducted net withdrawals of RMB59.5 billion.
The central parity rate of RMB against USD was set at 6.8054, up 12 bps daily. The PBOC conducted RMB10 billion seven-day reverse repo operations, while RMB69.5 billion reverse repos matured, resulting in a net withdrawal of RMB59.5 billion in a single day. The three major A-share indices opened down 0.4%-0.5% and fell 0.8%-1% by midday.
The Shanghai Composite Index lost the 4,000-point mark and closed the morning session at 3,999, down 42 points or 1.04%, with turnover of RMB753.362 billion. The Shenzhen Component Index fell 157 points or 1.02% to 15,259, with turnover of RMB877.147 billion. The ChiNext Index dropped 30 points or 0.78% to 3,918, with turnover of RMB385.684 billion.
Among Chinese banking stocks, ICBC (601398.SH) +0.060 (+0.843%) rose 0.8%, CCB (601939.SH) +0.110 (+1.138%) gained 1.1%, while CMB (600036.SH) -0.120 (-0.318%) fell 0.3%. Among Chinese insurance stocks, CHINA LIFE (601628.SH) -0.910 (-2.347%) dropped 2.4%, while CHINA PACIFIC INSURANCE (601601.SH) -0.190 (-0.632%) fell 0.6%. In addition, BYD Company (002594.SZ) -1.200 (-1.371%) declined 1.4%. CONTEMPORARY AMPEREX (300750.SZ) -0.100 (-0.027%) slipped 0.03%.
Among chip stocks, SMIC (688981.SH) +3.300 (+2.292%) rose 2.3%, while HUA HONG GRACE (688347.SH) +14.350 (+4.634%) gained 4.6%. AI chip stock CAMBRICON (688256.SH) +36.260 (+2.647%) rose 2.7%. Domestic GPU stocks METAX (688802.SH) +114.000 (+15.595%) and MOORE THREADS (688795.SH) +38.220 (+6.014%) surged 15.6% and 6%, respectively. LQKJ (688008.SH) -11.810 (-4.396%) fell 4.4%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) -15.240 (-3.448%) dropped 3.5%. Memory chip stock GIGADEVICE (603986.SH) -27.180 (-4.154%) fell 4.2%.
The three major optical module companies traded mixed by midday, with ZHONGJI INNOLIGHT (300308.SZ) +17.080 (+1.554%) rising 1.6%, TFC (300394.SZ) +0.170 (+0.072%) roughly flat, and EOPTOLINK (300502.SZ) -5.640 (-1.113%) falling 1.1%.
The precious metals sector weakened, with ZHAOJIN GOLD (000506.SZ) -0.790 (-6.026%) falling 6%, HUNAN SILVER (002716.SZ) -0.710 (-8.246%) plunging 8.3%, and CHIFENG GOLD (600988.SH) -0.930 (-2.943%) declining 2.9%.
Market sources said the H shares of Luxshare ICT (02475.HK) may be priced at the upper limit of HKD63.28 per share, while LUXSHARE PRECISION (002475.SZ) +0.480 (+0.763%) A shares rose 0.8% by midday. (jl/da)(HK stocks quote is delayed for at least 15 mins.) (A Shares quote is delayed for at least 15 mins.)