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<A Shrs> Three Major Indices Slip 0.1%-0.4%; SEMIGHT INSTRUMENTS (688808.SH) Becomes New "Top-Priced A-Share"
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China's three major growth drivers all missed expectations. Urban Fixed Asset Investment fell 1.6% YoY in the first four months, versus market expectations of a 1.7% increase. Added Value of Industries Above Designated Scale rose 4.1% YoY in April, below the expected 6% growth. Retail sales increased 0.2% YoY in April, missing the 2% forecast. The RMB central parity against the USD was set at 6.8435, down 20 bps from the previous day. The People's Bank of China conducted RMB1 billion of seven-day reverse repos in the open market today (18th), with the operation rate unchanged at 1.4%. Another RMB1 billion matured, resulting in zero net injection or withdrawal for the day. The three major A-share indices opened down 0.4% to 0.9%, briefly turned higher, but reversed before midday and closed down 0.1% to 0.4%. The Shanghai Composite Index fell 3 points, or 0.09%, to close at 4,131, with turnover of RMB1.32 trillion. The Shenzhen Component Index dropped 31 points, or 0.2%, to 15,530, with turnover of RMB1.58 trillion. The ChiNext Index declined 14 points, or 0.36%, to 3,914, with turnover of RMB757.35 billion. Bank stocks were weaker, with ICBC (601398.SH) and CCB (601939.SH) falling 0.7% and 0.6%, respectively. CHINA PACIFIC INSURANCE (601601.SH) dropped 1.9%. BYD Company (002594.SZ) declined 1.9%. CONTEMPORARY AMPEREX (300750.SZ) slipped 1.5% after announcing cooperation with Xiamen to establish a regional production base for high-performance automotive and energy storage lithium batteries, and to strengthen collaboration in the low-altitude sector. On its 25th trading day after listing, SEMIGHT INSTRUMENTS (688808.SH) became the new "top-priced A-share", with its share price once surging to RMB1361 and closing up nearly 15% at RMB1344.99. Turnover reached RMB4.848 billion, and total market capitalization stood at RMB138.086 billion. Former top-priced stock KWEICHOW MOUTAI (600519.SH) fell 0.8% to RMB1323, with turnover of RMB6.595 billion and market capitalization of RMB1.66 trillion. Among chip stocks, SMIC (688981.SH) fell 1.2%, and HUA HONG (688347.SH) dropped 1.5%. AI chip maker CAMBRICON (688256.SH) rose 0.7%. Domestic GPU makers METAX (688802.SH) and MOORE THREADS (688795.SH) gained 1.8% and 4.9%, respectively, as the National AI Application Pilot Base (Embodied Intelligence) was inaugurated, forming a full-industry-chain alliance with 18 leading companies including Unitree, METAX and MOORE THREADS. LQKJ (688008.SH) closed flat. Optical fibre producer YANGTZE OPTICAL FIBRE (601869.SH) jumped 6.7%. Leading domestic DRAM maker Changxin Technology is accelerating its IPO process. According to the Shanghai Stock Exchange website, Changxin Technology has completed its financial report update and refreshed its STAR Market IPO prospectus (application draft), with the review status reverting to "accepted". Memory chip stock GIGADEVICE (603986.SH) surged 6.6%. The updated prospectus shows GIGADEVICE holds a 1.8% stake in Changxin Technology, and its chairman Zhu Yiming concurrently serves as chairman of Changxin Technology. (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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