The three major A-share indices of Shanghai and Shenzhen fell by 0.7% to 1.2% in the first half of the day, while oil, gold, and shipping stocks rose against the trend. BYD fell by more than 3%

The People's Bank of China today (13th) conducted a 202.5 billion yuan (the same below) seven-day reverse repurchase operation in the open market, with the operation interest rate remaining at 1.4%. Today, 135 billion yuan of reverse repos are maturing, resulting in a net injection of 67.5 billion yuan. The central parity rate of the yuan against the US dollar is reported at 7.1772, up 31 points.

The three major A-share indices opened lower and continued to decline. The Shanghai Composite Index fell 24 points or 0.7% to close at 3,378 points, with a turnover of 367.1 billion yuan; the Shenzhen Component Index dropped 118 points or 1.2% to close at 10,116 points, with a turnover of 545 billion yuan; the ChiNext Index decreased by 23 points or 1.1% to close at 2,043 points, with a turnover of 259.7 billion yuan.

Chinese bank stocks, China Construction Bank (601939.SH) and Industrial and Commercial Bank of China (601398.SH), each fell by 0.3%. In addition, BYD (002594.SZ) dropped by 3.2%. Contemporary Amperex Technology Co., Limited (300750.SZ) also fell by 1%.

With geopolitical tensions rising, international oil prices surged, and Chinese oil stocks followed suit, with PetroChina (601857.SH) and CNOOC (600938.SH) rising by 1.1% and 2.6%, respectively. Funds flowed into gold stocks for hedging, with SD-GOLD (600547.SH), Zhongjin Gold (600489.SH), and Chifeng Jilong Gold Mining (600988.SH) rising between 2.2% and 5.8%.

Shipping stocks rose against the trend, with Lianyungang Port (601008.SH), Ningbo Marine (600798.SH), and Ningbo Ocean Shipping (601022.SH) rising by 2.5% and 5.1%.

Rare earth stocks showed mixed performance, with Keheng Co., Ltd. (300340.SZ) falling by 8% and Longi Green Energy Technology Co., Ltd. (300835.SZ) rising by 7.7%