--- title: "Shanghai Composite Up 30 Pts at Midday as Chip-related Shares Retreat After Early Gains, Pharma Stocks Advance" type: "News" locale: "en" url: "https://longbridge.com/en/news/292269727.md" description: "Shanghai Composite rose 30 points to 4,067 at midday, while the Shenzhen Component gained and ChiNext fell. The RMB central parity rate broke below 6.8 against the USD. Chip-related shares retreated after early gains, whereas pharmaceutical stocks advanced significantly. Bank and insurance stocks remained steady, with BYD rising 4% following a global model unveiling." datetime: "2026-07-10T04:00:48.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/292269727.md) - [en](https://longbridge.com/en/news/292269727.md) - [zh-HK](https://longbridge.com/zh-HK/news/292269727.md) generator: "portal-rs" --- # Shanghai Composite Up 30 Pts at Midday as Chip-related Shares Retreat After Early Gains, Pharma Stocks Advance The central parity rate of RMB against the USD was set at 6.7989, breaking through the 6.8 level for the first time since 2023, up 47 bps daily. The PBOC conducted RMB20 billion seven-day reverse repo operations, while RMB63 billion of reverse repos matured, resulting in a net withdrawal of RMB43 billion in a single day. The three major A-share indices showed mixed performance. The Shanghai Composite Index rose 30 pts, or 0.76%, to 4,067 at midday, with turnover of RMB1.01 trillion. The Shenzhen Component Index gained 94 pts, or 0.61%, to 15,493, with turnover of RMB1.16 trillion. The ChiNext Index fell 26 pts, or 0.65%, to 3,991, with turnover of RMB540.793 billion. Chinese bank stocks were steady. ICBC (601398.SH) +0.040 (+0.550%) and CCB (601939.SH) +0.140 (+1.416%) rose 0.6% and 1.4%, respectively, while CMB (600036.SH) +0.270 (+0.739%) gained 0.7%. Among Chinese insurers, CHINA LIFE (601628.SH) +0.130 (+0.349%) added 0.4% and CHINA PACIFIC INSURANCE (601601.SH) +0.660 (+2.253%) climbed 2.3%. In addition, BYD Company (002594.SZ) +3.480 (+4.006%) advanced 4% after participating in the Goodwood Festival of Speed in the UK and globally unveiling the Denza Z model. CONTEMPORARY AMPEREX (300750.SZ) -14.020 (-3.734%) dropped 3.7%. Chip-related shares retreated after surging earlier. SMIC (688981.SH) -2.000 (-1.156%) fell 1.2%, while HUA HONG GRACE (688347.SH) -4.530 (-1.131%) declined 1.1%. AI chip stock CAMBRICON (688256.SH) -6.910 (-0.450%) slipped 0.4%. Domestic GPU makers METAX (688802.SH) -3.890 (-0.396%) and MOORE THREADS (688795.SH) -5.100 (-0.672%) dropped 0.4% and 0.7%, respectively. LQKJ (688008.SH) -1.400 (-0.490%) fell 0.5%. Optical fiber stock YANGTZE OPTICAL FIBRE (601869.SH) -4.400 (-0.997%) lost 1%. Memory chip stock GIGADEVICE (603986.SH) -0.110 (-0.017%) was nearly flat at midday after the company projected approximately RMB6.9 billion in net profit for 1H25, representing YoY growth of 1,099%. Among the three major optical module players, ZHONGJI INNOLIGHT (300308.SZ) -43.800 (-3.666%) dropped 3.7%, while TFC (300394.SZ) +12.320 (+4.538%) rose 4.5% and EOPTOLINK (300502.SZ) +6.880 (+1.261%) gained 1.3%. Pharmaceutical stocks performed well. HAINAN HAIYAO (000566.SZ) +0.350 (+7.400%) , WANBANG PHARMACEUTICAL (301520.SZ) +2.920 (+7.019%) , COSUNTER (300436.SZ) +3.730 (+3.882%) and BALANCE MEDICAL (688198.SH) +1.800 (+2.109%) rose between 2.1% and 7.4%. Leading pharma stock HENGRUI PHARMA (600276.SH) +1.430 (+2.571%) gained 2.6%, while YILING PHARMACEUTICAL (002603.SZ) +0.490 (+3.226%) rose 3.2%. 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