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Shanghai and Shenzhen Markets: Three Major Indices Drop 1.7% to 3.7%; PETROCHINA (601857.SH) Up Over 3%, HUA HONG (688347.SH) Down Nearly 6%
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The Middle East situation escalated sharply, with Iran launching missiles at Israel and Israel striking targets within Iran. China’s foreign exchange reserves in May rose 0.93% MoM to USD3.4422 trillion, marking the 19th consecutive month of increased gold holdings. The RMB central parity against the USD was set at 6.8198, down 41 bps from the previous day. The three major A-share indices opened 2.2% to 3.5% lower and closed down 1.7% to 3.7%. The Shanghai Composite Index fell below the 4,000-point level at the open and closed down 68 points, or 1.7%, at 3,959, with turnover of RMB1.27 trillion. The Shenzhen Component Index dropped 493 points, or 3.22%, to close at 14,821, with turnover of RMB1.53 trillion. The ChiNext Index declined 146 points, or 3.69%, to 3,811, with turnover of RMB722.402 billion. Among financials, ICBC (601398.SH) and CCB (601939.SH) rose 2.2% and 1.1%, respectively. CHINA LIFE (601628.SH) gained 0.6%, while CHINA PACIFIC INSURANCE (601601.SH) added 0.5%. BYD Company (002594.SZ) fell nearly 2%; the company confirmed it is developing humanoid robots but denied reports that it targets deploying 20,000 units for internal use within the year. CONTEMPORARY AMPEREX (300750.SZ) declined 2.5% after recently launching group standards work on energy storage and electrification of internal combustion locomotives in the steel industry with industry associations. ZTE (000063.SZ) slumped 5.9%. Chip stocks were broadly lower. SMIC (688981.SH) fell 4.3%, and HUA HONG (688347.SH) dropped 5.8%. AI chipmaker CAMBRICON (688256.SH) declined 3.8%. Domestic GPU names METAX (688802.SH) and MOORE THREADS (688795.SH) fell nearly 1% and 2.8%, respectively. LQKJ (688008.SH) slid 6.3%. YANGTZE OPTICAL FIBRE (601869.SH) edged down 0.3%. Memory chipmaker GIGADEVICE (603986.SH) lost 2.9%. Rising international oil prices amid geopolitical tensions lifted oil stocks against the broader market trend. PETROCHINA (601857.SH) climbed 3.2%, TONG PETROTECH (300164.SZ) gained 4.7%, and SINO GEOPHYSICAL (300191.SZ) rose 2.7%. A-share “new king of IPOs” SEMIGHT INSTRUMENTS (688808.SH) surged nearly 7% to close at RMB2,295, with a total market capitalization of RMB235.62 billion. KWEICHOW MOUTAI (600519.SH) slipped 0.8% to RMB1,262.98, with a total market capitalization of RMB1.58 trillion. (jl/u) Auto-translated by AI This article was automatically translated by AI, the original language 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. More Details
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