--- title: "Shanghai and Shenzhen A Shrs Midday Down 0.4% to 2.3%; Banks and Pharma Stocks Buck Trend" type: "News" locale: "en" url: "https://longbridge.com/en/news/290508903.md" description: "Shanghai and Shenzhen A-shares declined midday, with the Shanghai Composite down 0.37% and the Shenzhen Component falling 1.83%. While major indices retreated from recent peaks, banking stocks rose, led by ICBC. Conversely, EV battery maker CATL dropped 1.8%, though domestic GPU makers like Moore Threads surged over 7%. Pharmaceutical stocks outperformed significantly, with Xinhua Pharma, Teyi Pharma, and Hainan Haiyao hitting daily limits." datetime: "2026-06-23T04:10:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/290508903.md) - [en](https://longbridge.com/en/news/290508903.md) - [zh-HK](https://longbridge.com/zh-HK/news/290508903.md) generator: "portal-rs" --- # Shanghai and Shenzhen A Shrs Midday Down 0.4% to 2.3%; Banks and Pharma Stocks Buck Trend The RMB central parity against the USD was set at 6.8171, lowered by 21 bps MoM. The PBOC conducted RMB524.5 billion of 7-day reverse repos at an unchanged operation rate of 1.4%. With RMB449.5 billion of reverse repos maturing, the single-day net injection amounted to RMB75 billion. The three major A-share indices opened 0.2% to 0.4% lower, with losses widening toward midday, falling 0.4% to 2.3% by the half-day close. The Shanghai Composite Index closed at 4,147 at midday, down 15 points or 0.37%, with turnover of RMB1.07 trillion. The Shenzhen Component Index retreated from a more than 10-year peak, falling 300 points or 1.83% to 16,072, with turnover of RMB1.25 trillion. The ChiNext Index pulled back from a record high, dropping 98 points or 2.27% to 4,260, with turnover of RMB605.441 billion. Banking stocks advanced, with ICBC (601398.SH) +0.180 (+2.500%) up 2.5%, CCB (601939.SH) +0.130 (+1.308%) and CMB (600036.SH) +0.130 (+0.345%) rising 1.3% and 0.4%, respectively. Insurers were mixed, as CHINA LIFE (601628.SH) +0.040 (+0.110%) edged up 0.1% while CHINA PACIFIC INSURANCE (601601.SH) -0.570 (-1.803%) fell 1.8%. In addition, BYD Company (002594.SZ) -1.650 (-1.884%) declined 1.9%. CONTEMPORARY AMPEREX (300750.SZ) -7.390 (-1.807%) slipped 1.8%. The company is reportedly planning to build electric truck battery-swapping stations in Europe and intends to begin delivering its first sodium-ion battery solutions to domestic customers starting September. Among chipmakers, SMIC (688981.SH) -1.570 (-1.078%) fell 1.1%, while HUA HONG GRACE (688347.SH) +11.900 (+4.250%) rose 4.3%. AI chipmaker CAMBRICON (688256.SH) -8.080 (-0.555%) dipped 0.6%. Domestic GPU makers METAX (688802.SH) +28.000 (+3.694%) and MOORE THREADS (688795.SH) +48.180 (+7.186%) climbed 3.7% and 7.2%, respectively. LQKJ (688008.SH) -13.620 (-4.863%) dropped 4.9%. Fiber optic producer YANGTZE OPTICAL FIBRE (601869.SH) +49.290 (+9.502%) surged 9.5%. Memory chipmaker GIGADEVICE (603986.SH) -24.950 (-3.618%) fell 3.6%. Pharmaceutical stocks outperformed, with XINHUA PHARM (000756.SZ) +1.220 (+9.984%) , TEYI PHARM (002728.SZ) +0.800 (+9.975%) and HAINAN HAIYAO (000566.SZ) +0.370 (+9.973%) all hitting the daily limit-up. (jl/da)(A Shares quote is delayed for at least 15 mins.) ### Related Stocks - [399001.CN](https://longbridge.com/en/quote/399001.CN.md) - [000001.CN](https://longbridge.com/en/quote/000001.CN.md) - [000566.CN](https://longbridge.com/en/quote/000566.CN.md) - [000756.CN](https://longbridge.com/en/quote/000756.CN.md) - [01398.HK](https://longbridge.com/en/quote/01398.HK.md) - [03750.HK](https://longbridge.com/en/quote/03750.HK.md) - [688795.CN](https://longbridge.com/en/quote/688795.CN.md) - [00719.HK](https://longbridge.com/en/quote/00719.HK.md) - [601398.CN](https://longbridge.com/en/quote/601398.CN.md) - [300750.CN](https://longbridge.com/en/quote/300750.CN.md) - [002728.CN](https://longbridge.com/en/quote/002728.CN.md) - [IDCBY.US](https://longbridge.com/en/quote/IDCBY.US.md) - [589720.CN](https://longbridge.com/en/quote/589720.CN.md) - [159992.CN](https://longbridge.com/en/quote/159992.CN.md) - [159887.CN](https://longbridge.com/en/quote/159887.CN.md) ## Related News & Research - [ICBC to host webcast on interim results release](https://longbridge.com/en/news/296591962.md) - [Moore Threads packs 256 GPUs into its MTT C256 system](https://longbridge.com/en/news/293307682.md) - [CATL says core operations carbon neutral by end-2025, supply chain next](https://longbridge.com/en/news/296098189.md) - [Moody's Affirms CATL A3 Issuer Rating, Outlook Revised to Positive](https://longbridge.com/en/news/296605274.md) - [CATL : Achieves Carbon Neutrality in Core Operations by End-2025](https://longbridge.com/en/news/296065831.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**