--- title: "A-Share Three Major Indices Fall 0.5%-1.9% for Full Day; HUA HONG GRACE Surges Over 10%" type: "News" locale: "en" url: "https://longbridge.com/en/news/292030357.md" description: "A-share indices fell 0.5%-1.9%, with the Shanghai Composite closing at 3,970. The PBOC net withdrew RMB85 billion. Key sectors saw mixed performance: chip stocks surged (Hua Hong Grace +10.6%), tourism and gold stocks hit limit-ups due to policy support and rising central bank gold reserves, while optical fiber and memory chips declined. Vanke announced debt repayment terms for MTN004." datetime: "2026-07-08T07:45:49.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292030357.md) - [en](https://longbridge.com/en/news/292030357.md) - [zh-HK](https://longbridge.com/zh-HK/news/292030357.md) --- # A-Share Three Major Indices Fall 0.5%-1.9% for Full Day; HUA HONG GRACE Surges Over 10% The RMB central parity rate against the USD was set at 6.8077, down 23 bps from the previous day. The PBOC conducted RMB15 billion of seven-day reverse repos, while RMB100 billion of reverse repos matured, resulting in a net withdrawal of RMB85 billion in a single day. The three major A-share indices opened 0.2%-0.5% higher before fluctuating and turning lower in the afternoon, ending the day down 0.5%-1.9%. The Shanghai Composite Index briefly regained the 4,000-point level before losing it again, closing at 3,970 points, down 19 points or 0.49%, with turnover of RMB1.19 trillion. The Shenzhen Component Index fell 285 points or 1.87% to close at 14,939 points, with turnover of RMB1.37 trillion. The ChiNext Index dropped 66 points or 1.7% to close at 3,845 points, with turnover of RMB651.774 billion. Among mainland banking stocks, ICBC (601398.SH) +0.110 (+1.515%) and CCB (601939.SH) +0.150 (+1.512%) both rose 1.5%, while CMB (600036.SH) +0.390 (+1.039%) gained 1%. Among mainland insurers, CHINA LIFE (601628.SH) \-0.060 (-0.160%) slipped 0.2%, while CHINA PACIFIC INSURANCE (601601.SH) \-0.140 (-0.474%) fell 0.5%. In addition, BYD Company (002594.SZ) +1.540 (+1.785%) rose 1.8%, while CONTEMPORARY AMPEREX (300750.SZ) \-11.490 (-3.085%) dropped 3.1%. Among chip stocks, SMIC (688981.SH) +6.680 (+4.594%) rose 4.6%, while HUA HONG GRACE (688347.SH) +34.400 (+10.617%) surged 10.6%. AI chip stock CAMBRICON (688256.SH) +25.550 (+1.841%) gained 1.8%. Domestic GPU stocks METAX (688802.SH) +6.090 (+0.730%) and MOORE THREADS (688795.SH) +2.800 (+0.422%) rose 0.7% and 0.4%, respectively. LQKJ (688008.SH) \-6.050 (-2.389%) fell 2.4%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) \-19.160 (-4.465%) dropped 4.5%. Memory chip stock GIGADEVICE (603986.SH) \-16.830 (-2.715%) declined 2.7%. Among the three leading optical module stocks, ZHONGJI INNOLIGHT (300308.SZ) +6.450 (+0.575%) rose 0.6%, TFC (300394.SZ) +1.590 (+0.651%) gained 0.7%, and EOPTOLINK (300502.SZ) +0.740 (+0.145%) added 0.2%. Tourism stocks performed well, with LINGNAN HOLDINGS (000524.SZ) +0.900 (+10.056%) hitting the daily limit-up. The State Council approved in principle the "15th Five-Year Plan" for building China into a tourism powerhouse, aiming to cultivate new growth drivers for tourism development, enrich tourism supply, unleash consumption potential and accelerate the development of a strong tourism sector. The PBOC increased its gold holdings for the twentieth consecutive month, lifting precious metals stocks. ZHAOJIN GOLD (000506.SZ) +1.220 (+10.000%) hit limit-up, while CHIFENG GOLD (600988.SH) +0.900 (+2.959%) rose nearly 3%. Luxshare ICT (02475.HK) set its H-share offering price at HKD63.28 per share, while LUXSHARE PRECISION (002475.SZ) \-0.810 (-1.280%) A-shares fell 1.3%. VANKE A (000002.SZ) +0.010 (+0.334%) rose 0.3%. The company will repay 40% of the principal for the 23 Vanke MTN004 upon maturity, while the remaining 60% principal will be extended by one year. (jl/u)(HK stocks quote is delayed for at least 15 mins.) 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