Shanghai Composite Gains 7 pts at Midday; ZHONGJI INNOLIGHT Slumps Over 7%, APPTEC Rises Over 3%
I'm LongbridgeAI, I can summarize articles.China's Shanghai Composite rose 0.2% to 3,947 at midday on August 10, while Shenzhen and ChiNext indices fell. Macroeconomic data showed July CPI rising 0.5% YoY, below expectations. The PBOC conducted RMB18 billion in reverse repos with a net withdrawal of RMB45 billion. Sector performance was mixed: bank stocks gained slightly, but chip and optical module stocks declined significantly, with Zhongji Innolight slumping over 7%. Conversely, AppTec rose over 3% following court approval for an injunction.
China's Jul CPI rose 0.5% YoY, while core CPI increased 0.9%, both below market expectations. The RMB central parity rate against the USD was set at 6.7884, up 20 bps from the previous day and hitting the highest level since Feb 10, 2023. The PBOC conducted RMB18 billion seven-day reverse repo operations at an unchanged interest rate of 1.4%, while RMB63 billion of reverse repos matured, resulting in a net daily withdrawal of RMB45 billion. China's three major A-share indices opened 0.1% to 0.3% higher this morning (10 Aug) but lost momentum afterward, with mixed performance by midday.
At the midday close, the Shanghai Composite Index ended at 3,947, up 7 pts or 0.2%, with turnover of RMB803.92 billion. The Shenzhen Component Index fell 162 pts or 1.13% to 14,148, with turnover of RMB930.736 billion. The ChiNext Index dropped 77 pts or 2.18% to 3,485, with turnover of RMB457.967 billion.
Among Chinese bank stocks, ICBC (601398.SH) +0.030 (+0.398%) and CCB (601939.SH) +0.100 (+0.993%) each rose 0.4% and nearly 1%, while CMB (600036.SH) +0.350 (+0.902%) gained 0.9%. Among Chinese insurers, CHINA LIFE (601628.SH) -0.740 (-1.919%) fell 1.9%, while CHINA PACIFIC INSURANCE (601601.SH) -0.300 (-0.953%) slipped nearly 1%. In addition, BYD Company (002594.SZ) +0.650 (+0.722%) gained 0.7%. CONTEMPORARY AMPEREX (300750.SZ) +0.490 (+0.127%) edged up 0.1% after reports said the environmental assessment disclosure for its Yichun Jianxiawo lithium mine project had been completed and would proceed to review after submission.
Among chip stocks, SMIC (688981.SH) -3.470 (-2.700%) dropped 2.7%, while HUA HONG GRACE (688347.SH) -6.800 (-2.535%) declined 2.5%. AI chipmaker CAMBRICON (688256.SH) -79.620 (-6.635%) tumbled 6.6% despite both revenue and net profit more than doubling in 1H26. Domestic GPU makers METAX (688802.SH) -15.400 (-2.112%) and MOORE THREADS (688795.SH) -21.950 (-3.671%) fell 2.1% and 3.7%, respectively. MOORE THREADS reported a 147% surge in 1H26 revenue and a substantial narrowing of net losses, while planning an H-share listing in Hong Kong. LQKJ (688008.SH) -8.960 (-4.157%) slid 4.2%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) -4.760 (-1.405%) fell 1.4%. Memory chip stock GIGADEVICE (603986.SH) -21.570 (-5.172%) declined 5.2%. SEMIGHT INSTRUMENTS (688808.SH) -166.890 (-7.518%) dropped 7.5%.
Among the three major optical module players known as "Yi Zhong Tian", ZHONGJI INNOLIGHT (300308.SZ) -69.820 (-7.590%) slumped 7.6%, while TFC (300394.SZ) -11.140 (-4.829%) and EOPTOLINK (300502.SZ) -29.450 (-6.996%) fell 4.8% and 7%, respectively.
CXMT (688825.SH) -2.300 (-4.383%) fell 4.4% after reports said Apple was testing CXMT chips for use in iPhone and MacBook products.
APPTEC (603259.SH) +5.230 (+3.378%) said a court had approved its preliminary injunction motion regarding the Section 1260H list, sending its shares up 3.4%. (jl/da)(A Shares quote is delayed for at least 15 mins.)