--- title: "Shanghai Composite Opens Down 3 pts; ZHONGJI INNOLIGHT Opens Nearly 3% Higher; Chinese Banks Soft" type: "News" locale: "en" url: "https://longbridge.com/en/news/295167464.md" description: "A-shares opened mixed on the 7th. The Shanghai Composite Index fell 0.1% to 3,896, while Shenzhen Component and ChiNext indices rose 0.3% and 0.62%, respectively. Bank stocks softened, with ICBC and CCB down over 0.5%. Conversely, optical module stocks surged; Zhongji Innolight rose nearly 3%, and Tongwei jumped 5.7% amid photovoltaic sector developments. Chip stocks showed mixed performance, with Gigadevice up 6.7% and SMIC down 0.6%. Meanwhile, the PBOC conducted net withdrawals of RMB133 billion in reverse repo operations." datetime: "2026-08-07T02:01:41.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295167464.md) - [en](https://longbridge.com/en/news/295167464.md) - [zh-HK](https://longbridge.com/zh-HK/news/295167464.md) --- # Shanghai Composite Opens Down 3 pts; ZHONGJI INNOLIGHT Opens Nearly 3% Higher; Chinese Banks Soft The RMB central parity rate against the USD was set at 6.7904, down 9 bps daily. The PBOC conducted RMB1 billion seven-day reverse repo operations at an unchanged interest rate of 1.4%, while RMB134 billion of reverse repos matured, resulting in a net daily withdrawal of RMB133 billion. The three major A-share indices opened mixed this morning (7th). The Shanghai Composite Index opened down 3 pts, or 0.1%, at 3,896. The Shenzhen Component Index opened up 42 pts, or 0.3%, at 14,152. The ChiNext Index opened up 21 pts, or 0.62%, at 3,537. Chinese bank stocks were soft, with ICBC (601398.SH) \-0.060 (-0.793%) and CCB (601939.SH) \-0.100 (-0.989%) opening down 0.5% and 0.8%, respectively, while CMB (600036.SH) \-0.220 (-0.565%) opened down 0.2%. Among Chinese insurers, CHINA LIFE (601628.SH) \-0.200 (-0.524%) opened down 0.2%, while CHINA PACIFIC INSURANCE (601601.SH) \-0.240 (-0.758%) opened nearly flat. In addition, BYD Company (002594.SZ) \-0.770 (-0.861%) opened up 0.4%. CONTEMPORARY AMPEREX (300750.SZ) \-0.600 (-0.155%) opened flat. The US imposed an additional 15% tariff on polysilicon and derivatives and set a minimum import price. In addition, eight major photovoltaic silicon material producers signed an initiative pledging not to sell below cost. Photovoltaic stocks opened mixed, with LONGI GREEN ENERGY (601012.SH) +0.200 (+1.570%) opening nearly flat and TONGWEI (600438.SH) +0.710 (+5.768%) opening nearly 5% higher. Among chip stocks, SMIC (688981.SH) +1.250 (+1.007%) opened down 0.6%, while HUA HONG GRACE (688347.SH) +1.980 (+0.767%) opened down 0.5%. AI chip stock CAMBRICON (688256.SH) \-4.920 (-0.421%) opened flat. Domestic GPU stocks METAX (688802.SH) +10.070 (+1.393%) and MOORE THREADS (688795.SH) +2.570 (+0.439%) both opened flat. LQKJ (688008.SH) +5.750 (+2.760%) opened down 0.6%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) +10.480 (+3.193%) opened down less than 0.1%. Memory chip stock GIGADEVICE (603986.SH) +25.800 (+6.701%) opened down 0.3%. SEMIGHT INSTRUMENTS (688808.SH) +109.990 (+5.250%) opened down 0.6%. Among the three major optical module players known as "Yi Zhong Tian", ZHONGJI INNOLIGHT (300308.SZ) +21.370 (+2.238%) opened 2.7% higher, while TFC (300394.SZ) +5.020 (+2.228%) and EOPTOLINK (300502.SZ) +10.030 (+2.378%) opened 2.1% and 2% higher, respectively. As for CXMT (688825.SH) \-0.360 (-0.693%) , it opened down 1.8%. 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