A-Share Three Major Indices Open Down 0.4%-1.4%; ZHONGJI INNOLIGHT Slumps Over 3%; Xinxing Debuts Up 1.98x
Complete. Here is the key summaryA-share indices opened down 0.4%-1.4%, with the Shanghai Composite at 3,812 and ChiNext down 1.4%. PBOC conducted reverse repos totaling RMB1.07 trillion. Major stocks fell: Zhongji Innolight slumped over 3% in A-shares, while its H-share debut was below offer price. Chip stocks like SMIC and Hua Hong Grace dropped significantly. Conversely, newly listed Xinxing surged nearly 2x on debut. CXMT clarified misleading patent invalidity claims.
The RMB central parity rate against the USD was set at 6.7892, up 7 bps YoY. The PBOC conducted RMB270.5 billion of seven-day reverse repos, while RMB804 billion of reverse repos matured. In addition, the PBOC conducted RMB600 billion of overnight reverse repos. The three major A-share indices opened down by 0.4% to 1.4%.
The Shanghai Composite Index opened down 16 points, or 0.43%, at 3,812. The Shenzhen Component Index opened down 127 points, or 0.93%, at 13,531. The ChiNext Index opened down 47 points, or 1.4%, at 3,331.
Among mainland banking stocks, ICBC (601398.SH) +0.030 (+0.377%) and CCB (601939.SH) +0.060 (+0.564%) opened down 0.1% and 0.2%, respectively, while CMB (600036.SH) +0.260 (+0.656%) opened flat. Among mainland insurance stocks, CHINA LIFE (601628.SH) 0.000 (0.000%) opened down 0.8%, while CHINA PACIFIC INSURANCE (601601.SH) +0.280 (+0.877%) opened down 0.3%. In addition, BYD Company (002594.SZ) +0.900 (+0.949%) opened up 0.1%. CONTEMPORARY AMPEREX (300750.SZ) -1.070 (-0.270%) opened down 1.7%.
Among chip stocks, SMIC (688981.SH) -3.610 (-2.758%) and HUA HONG GRACE (688347.SH) -19.150 (-7.087%) each opened down 1.7%. AI chip stock CAMBRICON (688256.SH) -49.900 (-4.351%) opened down 2.8%. Domestic GPU stocks METAX (688802.SH) -6.990 (-0.990%) and MOORE THREADS (688795.SH) -11.490 (-2.035%) opened down 2.8% and 1.7%, respectively. LQKJ (688008.SH) -3.250 (-1.566%) opened down 1.2%. Optical fiber stock YANGTZE OPTICAL FIBRE (601869.SH) +2.450 (+0.870%) opened flat. Memory chip stock GIGADEVICE (603986.SH) +2.270 (+0.624%) opened down 2%. The company's chairman Zhu Yiming proposed a share buyback of between RMB1 billion and RMB2 billion. In addition, Zhu reduced his holdings in the company by a cumulative approximately RMB4.4 billion between May 6 and Jun 12, and voluntarily pledged not to reduce his holdings in the next 12 months. SEMIGHT INSTRUMENTS (688808.SH) -123.140 (-6.886%) opened down 2.4%.
CXMT (688825.SH) -1.140 (-2.153%) , dubbed the "new king of IPOs", opened down 1.4%. The company clarified that online claims that all 19 claims of its core 3DNAND patents had been ruled invalid were seriously misleading descriptions.
ZJ InnoLight (03308.HK) -9.000 (-0.918%) H shares debuted in Hong Kong today (30 Jul) below the offer price, opening at HKD971, down 0.9% from the IPO price of HKD980. ZHONGJI INNOLIGHT (300308.SZ) -50.930 (-5.355%) A shares opened down 3.4%.
Newly listed Xinxing (301677.SZ) +76.420 (+227.576%) surged 1.98x at debut, opening at RMB100. (jl/a)(HK stocks quote is delayed for at least 15 mins.) (A Shares quote is delayed for at least 15 mins.)