--- title: "Major A-Share Indices Open Down 0.4%-0.5%; Precious Metals Sector Weakens" type: "News" locale: "en" url: "https://longbridge.com/en/news/291862947.md" description: "China's major A-share indices opened down 0.4%-0.5%, with the Shanghai Composite at 4,019. The PBOC conducted a net withdrawal of RMB59.5 billion via reverse repos. Sector performance varied: precious metals weakened significantly, while chip stocks showed mixed results. Bank and insurance stocks also declined slightly. Luxshare ICT H-shares are expected to price at HKD63.28." datetime: "2026-07-07T01:50:38.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291862947.md) - [en](https://longbridge.com/en/news/291862947.md) - [zh-HK](https://longbridge.com/zh-HK/news/291862947.md) --- # Major A-Share Indices Open Down 0.4%-0.5%; Precious Metals Sector Weakens The RMB central parity rate against the USD was set at 6.8054, up 12 bps daily. The PBOC conducted RMB10 billion of seven-day reverse repos, while RMB69.5 billion of reverse repos matured, resulting in a net daily withdrawal of RMB59.5 billion. China's three major A-share indices opened down 0.4%-0.5%. The Shanghai Composite Index opened down 21 pts, or 0.54%, at 4,019. The Shenzhen Component Index opened down 71 pts, or 0.46%, at 15,345. The ChiNext Index opened down 17 pts, or 0.44%, at 3,931. Among mainland bank stocks, ICBC (601398.SH) +0.020 (+0.281%) opened down 0.4%, CCB (601939.SH) +0.090 (+0.931%) opened down 0.2%, while CMB (600036.SH) \-0.200 (-0.530%) opened nearly flat. Among mainland insurers, CHINA LIFE (601628.SH) \-0.660 (-1.702%) opened down 0.7%, while CHINA PACIFIC INSURANCE (601601.SH) \-0.110 (-0.366%) opened down 0.7%. In addition, BYD Company (002594.SZ) \-0.520 (-0.594%) opened up 0.1%, while CONTEMPORARY AMPEREX (300750.SZ) +0.570 (+0.152%) opened up 0.4%. Among chip stocks, SMIC (688981.SH) +2.410 (+1.674%) opened down 1.4%, while HUA HONG GRACE (688347.SH) +13.730 (+4.434%) opened down 0.5%. AI chip stock CAMBRICON (688256.SH) +48.160 (+3.516%) opened down 1.1%. Domestic GPU stocks METAX (688802.SH) +97.000 (+13.269%) and MOORE THREADS (688795.SH) +37.110 (+5.839%) opened down 0.6% and 1%, respectively. LQKJ (688008.SH) \-7.180 (-2.672%) opened down 3.3%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) \-3.440 (-0.778%) opened down 1.6%. Memory chip stock GIGADEVICE (603986.SH) \-17.400 (-2.659%) opened down 4.5%. The three major optical module players lacked clear direction at market open, with ZHONGJI INNOLIGHT (300308.SZ) +19.960 (+1.816%) opening nearly flat, while TFC (300394.SZ) +2.790 (+1.177%) and EOPTOLINK (300502.SZ) +3.210 (+0.633%) opened flat. The precious metals sector weakened, with ZHAOJIN GOLD (000506.SZ) \-0.560 (-4.272%) opening limit down, HUNAN SILVER (002716.SZ) \-0.490 (-5.691%) opening down 5%, and CHIFENG GOLD (600988.SH) \-0.380 (-1.203%) opening down 4.1%. It was reported that the H shares of Luxshare ICT (02475.HK) are expected to be priced at the upper limit of HKD63.28 per share, while LUXSHARE PRECISION (002475.SZ) +0.360 (+0.573%) A shares opened down 0.5%. (jl/da)(HK stocks quote is delayed for at least 15 mins.) 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