---
title: "Shanghai and Shenzhen A-shares Open 0.3%-0.5% Lower; Banks Firm; Zhenbao Debuts Up 9.05x"
type: "News"
locale: "en"
url: "https://longbridge.com/en/news/290630424.md"
description: "Shanghai and Shenzhen A-shares opened 0.3%-0.5% lower, with the Shanghai Composite at 4,090. Banking stocks were firm, while semiconductor shares mostly declined. Newly listed Zhenbao surged 9.05x on debut. The PBOC injected RMB242.2 billion net liquidity via reverse repos."
datetime: "2026-06-24T01:55:39.000Z"
locales:
  - [zh-CN](https://longbridge.com/zh-CN/news/290630424.md)
  - [en](https://longbridge.com/en/news/290630424.md)
  - [zh-HK](https://longbridge.com/zh-HK/news/290630424.md)
generator: "portal-rs"
---

# Shanghai and Shenzhen A-shares Open 0.3%-0.5% Lower; Banks Firm; Zhenbao Debuts Up 9.05x

The RMB central parity against the USD was set at 6.8195, down 24 bps from the previous day. The PBOC conducted RMB662.5 billion of 7-day reverse repos at an unchanged rate of 1.4%. With RMB420.3 billion of reverse repos maturing today, this resulted in a net liquidity injection of RMB242.2 billion.

The three major A-share indices opened 0.3% to 0.5% lower. The Shanghai Composite opened down 16 points, or 0.39%, at 4,090. The Shenzhen Component Index opened down 71 points, or 0.45%, at 15,782. The ChiNext Index opened down 10 points, or 0.25%, at 4,181.

Banking stocks were broadly firmer. ICBC (601398.SH) -0.030 (-0.407%) opened up 0.3%, while CCB (601939.SH) -0.070 (-0.695%) and CMB (600036.SH) -0.210 (-0.561%) each opened up 0.2%. Among insurers, CHINA LIFE (601628.SH) -0.380 (-1.050%) opened up 0.2% and CHINA PACIFIC INSURANCE (601601.SH) -0.180 (-0.588%) rose 0.3%. BYD Company (002594.SZ) -1.480 (-1.741%) opened down 0.6%, while CONTEMPORARY AMPEREX (300750.SZ) -3.330 (-0.848%) slipped 0.1% at the open.

In semiconductor shares, SMIC (688981.SH) +4.250 (+2.999%) opened down 0.1% and HUA HONG GRACE (688347.SH) +14.780 (+5.060%) fell 2.3%. AI chipmaker CAMBRICON (688256.SH) +11.990 (+0.849%) declined 0.8%. Domestic GPU makers METAX (688802.SH) -26.280 (-3.418%) and MOORE THREADS (688795.SH) -21.330 (-3.030%) dropped 2.5% and 2%, respectively. LQKJ (688008.SH) +1.700 (+0.659%) opened down 0.8%. Optical fibre maker YANGTZE OPTICAL FIBRE (601869.SH) -3.660 (-0.641%) fell 2.2%. Memory chipmaker GIGADEVICE (603986.SH) +15.970 (+2.491%) was flat at the open.

Newly listed Zhenbao (688797.SH) +359.290 (+806.306%) surged 9.05x on debut, opening at RMB448. (jl/da)(A Shares quote is delayed for at least 15 mins.)

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> **Disclaimer: This article is for reference only and does not constitute any investment advice.**