The three major A-share indices of Shanghai and Shenzhen rebounded throughout the day by 1.3% to 2.2%, with aerospace and military stocks strengthening, while the three major telecommunications companies continued to weaken against the trend

The central parity rate of the Renminbi against the US dollar was raised by 87 points to 6.9608 per US dollar. The People's Bank of China today (3rd) conducted a 7-day reverse repurchase operation in the open market amounting to 105.5 billion Renminbi (same below), with the operation rate remaining at 1.4%. Today, 402 billion Renminbi of reverse repos are maturing, resulting in a net withdrawal of 296.5 billion Renminbi for the day.

The three major A-share indices opened higher but then turned to decline, gradually recovering afterwards and reversing the previous day's downward trend. The Shanghai Composite Index closed up 51 points or 1.3% at 4,067 points, with a turnover of 1.11 trillion Renminbi. The Shenzhen Component Index closed up 302 points or 2.2% at 14,127 points, with a turnover of 1.43 trillion Renminbi. The ChiNext Index closed up 60 points or 1.9% at 3,224 points, with a turnover of 677.4 billion Renminbi.

The domestic bank stocks were slightly weak, with Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH) falling by 1.9% and 1.6% respectively.

The three major oil stocks showed mixed performance, with CNOOC (600938.SH) rising by 0.8%. PetroChina (601857.SH) and Sinopec (600028.SH) fell by 2% and 1.3% respectively.

Chip-related stocks were mixed, with SMIC A (688981.SH) and Hua Hong (688347.SH) falling by 0.9% and rising by 3.3% respectively. AI chip stock Cambricon (688256.SH) dropped by 9.2%. Cambricon stated that the information circulating online regarding the company's recent small-scale communication is false. Domestic GPU stocks, including Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH), fell by 2.7% to 3.1%.

Aerospace and military industry stocks strengthened, with XI'AN TRIANGLE DEFENSE (300775.SZ), Aero Engine Corporation of China (600893.SH), and Hangya Technology (688510.SH) rising by 7.2% to 18%.

In addition, CATL (300750.SZ) fell by 0.3%. BYD (002594.SZ) rose by 0.4%.

The three major Chinese telecom stocks continued to weaken against the market trend, with China Mobile (600941.SH) and China Unicom (600050.SH) falling by 0.4% to 0.6%, and China Telecom (601728.SH) falling by 1.4%. The "three barrels of oil" showed differentiation, with PetroChina (601857.SH) and Sinopec (600028.SH) falling by 1.3% to 2%, while CNOOC (600938.SH) rose by 0.8%.

Resource stocks generally rebounded, with Zijin Mining (601899.SH) rising by 6%, Jiangxi Copper (600362.SH) rising by 3.5%, and Luoyang Molybdenum (603993.SH) rising by 4.7%. Zhaojin Mining (000506.SZ) continued to fall by 3.3%