A-Share Three Major Indices Open 0.4%-0.8% Higher; Memory Chip Stocks Advance
I'm LongbridgeAI, I can summarize articles.A-share indices opened higher, with the Shanghai Composite up 0.38%, Shenzhen Component up 0.52%, and ChiNext up 0.77%. Memory chip stocks surged, led by LONGSYS's projected profit surge, lifting peers like CECPORT and EMPYREAN. Chipmakers SMIC and HUA HONG GRACE also gained. Conversely, major bank and insurer stocks opened slightly lower. The PBOC conducted net liquidity withdrawal operations.
The RMB central parity rate against the USD was set at 6.8066, down 19 bps daily. The PBOC conducted RMB7 billion of seven-day reverse repos and RMB1 trillion of outright reverse repo operations. Meanwhile, RMB157.5 billion of seven-day reverse repos and RMB800 billion of outright reverse repos matured, resulting in a net liquidity withdrawal of RMB49.5 billion on the day. The three major A-share indices opened 0.4% to 0.8% higher.
The Shanghai Composite Index opened up 15 pts or 0.38% at 4,059. The Shenzhen Component Index opened up 80 pts or 0.52% at 15,677. The ChiNext Index opened up 30 pts or 0.77% at 4,050.
Among mainland Chinese bank stocks, ICBC (601398.SH) -0.080 (-1.136%) opened down 0.3%, CCB (601939.SH) -0.110 (-1.159%) opened down 0.7%, and CMB (600036.SH) -0.150 (-0.407%) opened down 0.4%. Among mainland Chinese insurers, CHINA LIFE (601628.SH) -0.350 (-0.905%) opened down 0.1%, while CHINA PACIFIC INSURANCE (601601.SH) -0.080 (-0.270%) opened down 0.2%. In addition, BYD Company (002594.SZ) -1.570 (-1.775%) opened up 0.1%. CONTEMPORARY AMPEREX (300750.SZ) +1.370 (+0.361%) opened down 0.2%.
Among chip stocks, SMIC (688981.SH) +2.410 (+1.718%) opened up 2.2%, while HUA HONG GRACE (688347.SH) +10.680 (+3.747%) opened up 3%. AI chip stock CAMBRICON (688256.SH) +26.840 (+1.984%) opened up 2.2%. Domestic GPU stocks METAX (688802.SH) -5.380 (-0.729%) and MOORE THREADS (688795.SH) -5.710 (-0.887%) opened up 0.04% and 0.2%, respectively. LQKJ (688008.SH) +7.170 (+2.687%) opened up 3.8%. Optical fiber stock YANGTZE OPTICAL FIBRE (601869.SH) -18.930 (-3.985%) opened up 2.9%. Memory chip stock GIGADEVICE (603986.SH) +8.230 (+1.214%) opened up 1.8%.
Mainland Chinese memory leader LONGSYS (301308.SZ) +85.980 (+13.912%) projected its interim net profit to surge by up to 744x YoY, sending the stock up 10% at the open. The rally also lifted other memory chip names, with CECPORT (001287.SZ) +2.860 (+9.997%) opening up 6.8% and EMPYREAN (301269.SZ) +12.060 (+11.735%) opening up 6.5% as well.
EVE ENERGY (300014.SZ) +0.630 (+1.030%) opened down 0.9% after the company proposed to reduce its stake in SMOORE INTL (06969.HK) -0.130 (-1.652%) Short selling $19.69M; Ratio 15.023% by no more than 3.5%. (jl/da)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-07-03 16:25.) (A Shares quote is delayed for at least 15 mins.)