The three major A-share indices of Shanghai and Shenzhen opened higher by 0.2%, chip stocks favored, while film and television stocks continued to decline

The People's Bank of China today (25th) conducted a 409.5 billion yuan (the same below) seven-day reverse repurchase operation in the open market, with the operation rate remaining at 1.4%. Today, 400 billion yuan of reverse repos are maturing, resulting in a net injection of 9.5 billion yuan for the day; on the same day, a 600 billion yuan MLF operation was conducted, with a term of one year.

The central parity rate of the yuan against the US dollar is reported at 6.9321, an increase of 93 points from the previous day, reaching a new high since May 11, 2023. The three major A-share indices opened higher. The Shanghai Composite Index opened at 4,123 points, up 0.2% or 6 points. The Shenzhen Component Index opened at 14,322 points, up 30 points or 0.2%. The ChiNext Index opened at 3,313 points, up 4 points or 0.2%.

Domestic bank stocks opened flat, with Industrial and Commercial Bank of China (601398.SH) unchanged. China Construction Bank (601939.SH) opened up 0.2%. In addition, CATL (300750.SZ) opened up 0.5%. BYD (002594.SZ) opened flat.

Chip-related stocks are favored, with SMIC (688981.SH) A shares opening up 1%. AI chip stock Cambricon (688256.SH) opened up 0.8%. Hua Hong (688347.SH) A shares opened up 1.7%. Domestic GPU stocks MuXi Co., Ltd. (688802.SH) and Moore Threads (688795.SH) opened down 0.3% each. Zhongwei Semiconductor (688380.SH) opened up 2%, with a net profit of 285 million yuan last year, a year-on-year increase of 108.05%.

Some film and television stocks continued to decline, with Hengdian Film (603103.SH) hitting the limit down again, and China Film (600977.SH) opening down 7.2%