--- title: "Shanghai Composite Opens Up 2 pts; KWEICHOW MOUTAI Opens Down 3.5%; Banks and Insurers Soft" type: "News" locale: "en" url: "https://longbridge.com/en/news/296044035.md" description: "China's A-share indices opened slightly higher, with the Shanghai Composite up 0.07%. The RMB strengthened against the USD, setting a new high parity rate of 6.7873. While banks and insurers showed mixed to soft performance, Kweichow Moutai shares dropped 3.5% following a 1.95% year-over-year decline in first-half net profit. Chip and optical module stocks displayed varied movements." datetime: "2026-08-17T01:51:42.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/296044035.md) - [en](https://longbridge.com/en/news/296044035.md) - [zh-HK](https://longbridge.com/zh-HK/news/296044035.md) generator: "portal-rs" --- # Shanghai Composite Opens Up 2 pts; KWEICHOW MOUTAI Opens Down 3.5%; Banks and Insurers Soft The central parity rate of RMB against USD was set at 6.7873, up 5 bps daily and hitting a new high since 8 Feb 2023. The PBOC did not conduct any 7-day reverse repo operation today (17th), but conducted RMB565.5 billion overnight reverse repo operations. Meanwhile, RMB367 billion reverse repos matured. China's three major A-share indices opened higher by 0.07% to 0.2% this morning. The Shanghai Composite Index opened up 2 pts, or 0.07%, at 3,930. The Shenzhen Component Index opened up 44 pts, or 0.31%, at 14,399. The ChiNext Index opened up 6 pts, or 0.18%, at 3,632. Among bank stocks, ICBC (601398.SH) +0.010 (+0.132%) and CCB (601939.SH) +0.030 (+0.293%) opened down 0.1% and 0.3%, respectively, while CMB (600036.SH) -0.280 (-0.728%) opened down 0.3%. Among insurance stocks, CHINA LIFE (601628.SH) +0.080 (+0.217%) and CHINA PACIFIC INSURANCE (601601.SH) -0.080 (-0.267%) each opened down by less than 0.1%. In addition, BYD Company (002594.SZ) +0.470 (+0.529%) and CONTEMPORARY AMPEREX (300750.SZ) -0.430 (-0.109%) both opened flat. Among chip stocks, SMIC (688981.SH) +0.730 (+0.549%) opened down 0.7%, while HUA HONG GRACE (688347.SH) +9.310 (+3.676%) opened down 0.2%. AI chip stock CAMBRICON (688256.SH) +33.800 (+3.092%) opened up 0.3%. Domestic GPU stocks METAX (688802.SH) +28.010 (+3.745%) and MOORE THREADS (688795.SH) +5.220 (+0.905%) opened down 0.1% and 0.5%, respectively. LQKJ (688008.SH) +3.970 (+1.873%) opened up 0.5%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) +10.140 (+2.855%) opened up 0.2%. Memory chip stock GIGADEVICE (603986.SH) +18.530 (+4.439%) opened up 1.6%. SEMIGHT INSTRUMENTS (688808.SH) +14.020 (+0.631%) opened up 0.6%. Among the three major optical module players, ZHONGJI INNOLIGHT (300308.SZ) +0.060 (+0.006%) opened up 0.6%, TFC (300394.SZ) +10.450 (+3.903%) opened up 3.8%, while EOPTOLINK (300502.SZ) -6.610 (-1.475%) opened nearly flat. CXMT (688825.SH) +3.820 (+6.923%) opened up 0.8%. KWEICHOW MOUTAI (600519.SH) -53.020 (-3.951%) posted net profit of RMB44.517 billion for 1H26, down 1.95% YoY, with its share price opening down 3.5%. 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