The Shanghai Composite Index fell 4 points in the half-day session, IFLYTEK hit the daily limit, and domestic property and gold mining stocks surged

The central parity rate of the RMB against the US dollar was lowered by 16 points to 6.9771 per US dollar. The People's Bank of China today (29th) conducted a seven-day reverse repurchase operation of 354 billion yuan (the same below) in the open market, with the operation rate remaining at 1.4%. Additionally, 210.2 billion yuan of reverse repos are maturing, resulting in a net injection of 143.8 billion yuan for the day.

The three major A-share indices opened with mixed developments, with little change at midday. The Shanghai Composite Index closed at 4,147 points, down 4 points or 0.1%, with a turnover of 904.2 billion yuan. The Shenzhen Component Index rose 2 points to 14,344 points, with a turnover of 1.11 trillion yuan. The ChiNext Index slightly fell by 1 point to 3,322 points, with a turnover of 509.1 billion yuan.

According to reports, many domestic property companies are no longer required by regulatory authorities to report the "three red lines" indicators monthly. Domestic property stock Vanke A (000002.SZ) rose by 4.5%, Poly Developments (600048.SH) also rose by over 4%, and Joy City (000031.SZ) and New World Development (601155.SH) hit the daily limit.

International gold prices reached a new high, and gold mining stocks continued to perform strongly, with Zijin Mining (601899.SH) rising by 3%, SD-GOLD (600547.SH) rising by 3.9%, Chifeng Jilong Gold Mining (600988.SH) rising by 4.6%, and Zhaojin Mining (000506.SZ) rising by 9%.

In the banking sector, Industrial and Commercial Bank of China (601398.SH) rose by 0.1%, while China Construction Bank (601939.SH) fell by 0.7%.

In the chip-related stocks, SMIC (688981.SH) fell by 3.7%. Hua Hong (688347.SH) fell by 2.4%. AI chip stock Cambricon (688256.SH) fell by 1.7%. Another AI concept stock IFLYTEK (002230.SZ) hit the daily limit, with the company expected to achieve a net profit of 785 million to 950 million yuan last year, an annual increase of 40% to 70%.

In addition, CATL (300750.SZ) rose by 0.4%. BYD (002594.SZ) fell by 1.6%. Ganfeng Lithium (002460.SH) slightly rose by 0.5%