The three major A-share indices of Shanghai and Shenzhen opened lower by 0.7% to 1%, gold mining stocks were under pressure, while oil stocks remained stable

AASTOCKS
2026.02.05 01:27

The People's Bank of China today (5th) conducted a 118.5 billion yuan (the same below) seven-day reverse repurchase operation, with the operation rate remaining at 1.4%. Additionally, it carried out a 300 billion yuan 14-day reverse repurchase operation. Today, 354 billion yuan of reverse repos are maturing, resulting in a net injection of 64.5 billion yuan. The central parity rate of the yuan against the US dollar was lowered by 35 points to 6.9570 per US dollar.

The three major A-share indices opened lower by 0.7% to 1%. The Shanghai Composite Index opened down 27 points or 0.7%, at 4,075 points. The Shenzhen Component Index opened down 135 points or nearly 1%, at 14,020 points. The ChiNext Index opened down 33 points or 1%, at 3,277 points.

Domestic bank stocks, Industrial and Commercial Bank of China (601398.SH) and China Construction Bank (601939.SH), both opened up 0.1%.

In addition, CATL (300750.SZ) opened up 0.2%. It was reported that BYD (002594.SZ) saw its electric vehicle sales in Germany increase more than tenfold year-on-year last month, but its stock price opened down 0.7%.

The three major oil companies remained stable, with CNOOC (600938.SH), PetroChina (601857.SH), and Sinopec (600028.SH) all opening up 0.2% to nearly 1%.

Gold-related stocks were under pressure, with Shandong Gold (600547.SH) opening down 3.5%, Zhongjin Gold (600489.SH) down 3.8%, Chifeng Gold (600988.SH) down nearly 4%, and Zhaojin Mining (000506.SZ) down 5%.

Chip-related stocks were soft, with SMIC (688981.SH) and Hua Hong Semiconductor (688347.SH) opening down 1.6% and 2.2%, respectively. AI chip stock Cambricon (688256.SH) opened down 1.7%. Domestic GPU stocks, Muxi Co., Ltd. (688802.SH) and Moore Threads (688795.SH), opened down nearly 1% and 1.1%, respectively.

It is rumored that Elon Musk's SpaceX and other teams recently visited several photovoltaic companies in China. However, JinkoSolar (688223.SH) clarified that it has not engaged in any cooperation with Musk's team and has not signed any framework agreements or formal agreements, with its stock price opening down 7.1%. Other photovoltaic industry chain stocks, Times Energy (688429.SH) opened down 3.9%, and Zerun New Energy (301636.SZ) fell 3.9%

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