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Shanghai and Shenzhen Markets Mixed at Midday; Power, Rare Earth and Computing Power Stocks Rise, Gold Mining and Shipping Stocks Fall
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US-Iran negotiations have reached a stalemate. The RMB central parity against the USD was set at 6.8657, down 3 bps MoM. The People's Bank of China conducted RMB500 million of seven-day reverse repos in the open market today (13th), with the operation rate unchanged at 1.4%. As no reverse repos matured today, the single-day net injection was RMB500 million. After opening lower, the three major A-share indices diverged. The Shanghai Composite closed at 3,979 at midday, down 6 points or 0.2%, with turnover of RMB600.9 billion; the Shenzhen Component Index closed at 14,336, up 27 points or 0.2%, with turnover of RMB803.9 billion; and the ChiNext Index closed at 3,462, up 13 points or 0.4%, with turnover of RMB373.3 billion. Among bank stocks, Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) rose 1% and 0.4%, respectively. Insurance stocks declined, with Ping An Insurance (601318.SH), China Life (601628.SH), China Pacific Insurance (601601.SH) and New China Insurance (601336.SH) falling between 1% and 2.5%. Shipping stocks continued to retreat, with China Merchants Energy Shipping (601872.SH), China Merchants Nanjing Oil Tanker (601975.SH) and COSCO Shipping Energy (600026.SH) dropping 4.7% to 5%. Spot gold prices fell, dragging down gold mining stocks. Shandong Gold (600547.SH), Chifeng Gold (600988.SH), Zhongjin Gold (600489.SH) and Zhaojin Gold (000506.SZ) declined between 1.5% and 3.6%. As rare earth oxide prices climbed, rare earth permanent magnet concept stocks surged. Yujing Co (002943.SZ), Jiaozuo Wanfang (000612.SZ) and Baotou Steel (600010.SH) all hit their daily upper limits. Power stocks advanced, with Gansu Energy (000791.SZ) hitting the daily limit. Jiaze New Energy (601619.SH) jumped 6.7%, while Zhejiang New Energy (600032.SH) rose 4.7%. Computing power concept stocks performed strongly. Liyang Chip (688135.SH) soared 18%, while Raisecom (603803.SH) hit the daily limit. Chip stocks were mixed. SMIC (688981.SH) A shares slipped 0.3%, while Hua Hong (688347.SH) A shares fell 1.2%. AI chipmaker Cambricon (688256.SH) rose 1.5%. Domestic GPU stock Moore Threads (688795.SH) gained 2%. In addition, CATL A shares (300750.SZ) hit a record high of RMB433.33, closing up 1.9% at RMB423.99 at midday. BYD A shares (002594.SZ) rose 1.8%. (ta/da) This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. Auto-translated by AI AASTOCKS Financial News |
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