--- title: "Shanghai Composite Falls 46 pts at Midday; Power Stocks Advance; IPO Changjin Soars Over 12x" type: "News" locale: "en" url: "https://longbridge.com/en/news/287715152.md" description: "The Shanghai Composite Index fell 46 points (1.11%) to 4,099 at midday, while the Shenzhen Component Index dropped 66 points (0.42%). Power stocks surged, with Huadian Energy and Liaoning Energy hitting limit-up. New IPO Changjin soared over 12 times its opening price, reflecting strong demand. The PBOC injected RMB127.6 billion through reverse repos, maintaining the operation rate at 1.4%. Mixed performances were noted among bank and insurance stocks." datetime: "2026-05-27T04:24:21.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/287715152.md) - [en](https://longbridge.com/en/news/287715152.md) - [zh-HK](https://longbridge.com/zh-HK/news/287715152.md) generator: "portal-rs" --- # Shanghai Composite Falls 46 pts at Midday; Power Stocks Advance; IPO Changjin Soars Over 12x The central parity of RMB against USD was set at 6.8291, down 3 bps MoM. The PBOC conducted RMB177.6 billion of seven-day reverse repos in the open market today (27th), with the operation rate unchanged at 1.4%. With RMB50 billion maturing, there was a net injection of RMB127.6 billion in a single day. The three major A-share indices opened mixed. At midday, the Shanghai Composite Index fell 46 pts or 1.11% to 4,099, with turnover of RMB932.163 billion. The Shenzhen Component Index fell 66 pts or 0.42% to 15,809, with turnover of RMB1.14 trillion. The ChiNext Index rose 28 pts or 0.7% to 4,071, with turnover of RMB531.979 billion. Bank stocks were mixed. ICBC (601398.SH) -0.020 (-0.279%) fell 0.3%, while CCB (601939.SH) +0.080 (+0.776%) rose 0.8% to RMB10.39. Insurers declined, with CHINA LIFE (601628.SH) -0.520 (-1.538%) down 1.5% and CHINA PACIFIC INSURANCE (601601.SH) -0.660 (-1.987%) down nearly 2%. BYD Company (002594.SZ) -1.540 (-1.595%) fell 1.6%. CONTEMPORARY AMPEREX (300750.SZ) +13.300 (+3.304%) rose 3.3%. Among chip stocks, SMIC (688981.SH) -0.180 (-0.121%) fell 0.1%, while HUA HONG (688347.SH) +1.040 (+0.468%) rose 0.5%. AI chipmaker CAMBRICON (688256.SH) -39.970 (-2.833%) dropped 2.8%. Domestic GPU names METAX (688802.SH) -29.960 (-4.075%) and MOORE THREADS (688795.SH) -23.040 (-3.254%) fell 4.1% and 3.3%, respectively. MOORE THREADS' MTT S5000 (PH100 chip) passed the national "Secure and Reliable" assessment. LQKJ (688008.SH) +1.310 (+0.481%) rose 0.5%. YANGTZE OPTICAL FIBRE (601869.SH) +4.870 (+1.338%) gained 1.3%. Memory chipmaker GIGADEVICE (603986.SH) -3.920 (-0.745%) slipped 0.7%. A-share "IPO King" SEMIGHT INSTRUMENTS (688808.SH) -19.120 (-1.075%) fell 1.1% to RMB1,760.16. KWEICHOW MOUTAI (600519.SH) -16.120 (-1.266%) slipped 1.3% to RMB1,257.26. New listing N Changjin (688635.SH) +516.020 (+1,259.200%) surged 11.93x at the open, with gains expanding to 12.59x by midday. The company is a leading domestic manufacturer of specialty optical fibre. Its core product, rare-earth-doped optical fibre, is a key upstream optical material in the laser industry chain, widely used in advanced manufacturing, optical communications, measurement and sensing, and defense applications. Power stocks advanced, with HUADIAN ENERGY (600726.SH) +0.760 (+9.987%) and LIAONING ENERGY (600758.SH) +0.420 (+9.953%) hitting limit-up. 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