A-Share Three Major Indices Fall 0.7% to 3.5% at Midday, YUSHU TECHNOLOGY Slumps Nearly 10%; Mainland Banks and Insurers Stay Firm

The central parity rate of RMB against USD was set at 6.7841, down 24 bps from the previous day. The PBOC conducted RMB340 billion of seven-day reverse repos today (24th), while no reverse repos matured, resulting in a net injection of RMB340 billion in a single day.

The three major A-share indices opened mixed before all turning lower subsequently, falling 0.7% to 3.5% by midday. The Shanghai Composite Index fell 27 points, or 0.71%, to 3,877, with turnover of RMB649.041 billion. The Shenzhen Component Index dropped 344 points, or 2.44%, to 13,750, with turnover of RMB722.028 billion. The ChiNext Index declined 124 points, or 3.5%, to 3,421, with turnover of RMB346.458 billion.

Among mainland bank stocks, ICBC (601398.SH) +0.130 (+1.673%) and CCB (601939.SH) +0.150 (+1.425%) rose 1.7% and 1.4%, respectively, while CMB (600036.SH) +0.710 (+1.825%) gained 1.8%. Among mainland insurance stocks, CHINA LIFE (601628.SH) +0.690 (+1.863%) rose 1.9%, while CHINA PACIFIC INSURANCE (601601.SH) +0.760 (+2.498%) advanced 2.5%. PING AN OF CHINA (601318.SH) +1.820 (+3.411%) climbed 3.4%. In addition, BYD Company (002594.SZ) -0.520 (-0.575%) fell 0.6%. BYD's third-generation Tang debuted at the Chengdu Auto Show and is expected to launch in 4Q26. CONTEMPORARY AMPEREX (300750.SZ) -1.510 (-0.386%) slipped 0.4% after launching the CATL Mall, with plans to conduct livestream sales in the future.

Among chip stocks, SMIC (688981.SH) -4.080 (-3.269%) dropped 3.3%, while HUA HONG GRACE (688347.SH) -7.580 (-3.250%) fell 3.3%. AI chip stock CAMBRICON (688256.SH) -69.040 (-6.671%) slumped 6.7%. Domestic GPU stocks METAX (688802.SH) -30.000 (-4.286%) and MOORE THREADS (688795.SH) -20.100 (-3.702%) declined 4.3% and 3.7%, respectively. LQKJ (688008.SH) -9.450 (-4.712%) fell 4.7%. Optical fiber stock YANGTZE OPTICAL FIBRE (601869.SH) +7.060 (+1.942%) rose 1.9% after reporting 1H26 net profit of RMB2.925 billion, up 888.88% YoY. Memory chip stock GIGADEVICE (603986.SH) -27.390 (-6.696%) dropped 6.7%. SEMIGHT INSTRUMENTS (688808.SH) -87.670 (-3.775%) fell 3.8%, while CXMT (688825.SH) -1.880 (-3.241%) declined 3.2%.

The three major optical module companies known as "Yi Zhong Tian" traded mixed but generally steady. ZHONGJI INNOLIGHT (300308.SZ) -73.230 (-7.766%) tumbled 7.8% despite reporting interim net profit of RMB13.651 billion, up 2.4x YoY. TFC (300394.SZ) -24.290 (-8.895%) dropped 8.9%, while EOPTOLINK (300502.SZ) -33.230 (-7.518%) fell 7.5%.

YUSHU TECHNOLOGY (688836.SH) -65.970 (-9.811%) slumped 9.8%, with turnover reaching RMB3.57 billion and total market capitalization at RMB245.283 billion. The second World Humanoid Robot Games 2026 officially opened in Beijing. Last year, Unitree Robotics won multiple championships in track and field events. According to information from this year's event, no records were found of the YUSHU TECHNOLOGY team winning awards in several sprint competitions.(jl/a)(A Shares quote is delayed for at least 15 mins.)