A-Share Three Major Indices Open Down 0.5%-0.7%; Nuclear Power Stocks Buck Trend
I'm LongbridgeAI, I can summarize articles.A-share indices opened down 0.5%-0.7%, with the Shanghai Composite at 3,812. The PBOC maintained a moderately accommodative monetary policy and conducted net withdrawals of RMB562.5 billion. While most sectors declined, nuclear power stocks surged over 9% following State Council approval for four projects worth over RMB170 billion. Chip stocks faced pressure, though BYD rose on strong EV sales.
The PBOC said it will continue to implement a moderately accommodative monetary policy in 2H26 and step up efforts to expand domestic demand. The State Administration of Foreign Exchange said it will steadily expand institutional opening-up in the foreign exchange sector in 2H26 and strengthen monitoring of cross-border capital flows. The RMB central parity against the USD was set at 6.7898, down 4 bps daily. The PBOC conducted RMB63 billion of seven-day reverse repos, while RMB925.5 billion of reverse repos matured. In addition, the PBOC carried out RMB300 billion of overnight reverse repos, resulting in a net daily withdrawal of RMB562.5 billion. The three major A-share indices opened down 0.5%-0.7%.
The Shanghai Composite Index opened down 19 pts, or 0.51%, at 3,812. The Shenzhen Component Index opened down 81 pts, or 0.6%, at 13,497. The ChiNext Index opened down 23 pts, or 0.7%, at 3,320.
Among mainland Chinese bank stocks, ICBC (601398.SH) -0.010 (-0.125%) and CCB (601939.SH) -0.170 (-1.567%) opened down 0.8% and 1.6%, respectively, while CMB (600036.SH) +0.660 (+1.666%) opened up 0.7%. Among mainland Chinese insurers, CHINA LIFE (601628.SH) -0.370 (-0.936%) opened down 0.8%, while CHINA PACIFIC INSURANCE (601601.SH) -0.290 (-0.896%) opened down 0.4%. In addition, BYD Company (002594.SZ) -0.710 (-0.741%) opened up 0.3% after its Jul new energy vehicle sales surged nearly 22% YoY, with exports exceeding 180,000 units. CONTEMPORARY AMPEREX (300750.SZ) -4.310 (-1.090%) opened down 0.7%.
Among chip stocks, SMIC (688981.SH) -4.900 (-3.952%) opened down 0.8%, while HUA HONG GRACE (688347.SH) -14.640 (-6.154%) opened down 0.4%. AI chip stock CAMBRICON (688256.SH) -47.120 (-4.260%) opened down 0.5%. Domestic GPU stocks METAX (688802.SH) -9.870 (-1.433%) and MOORE THREADS (688795.SH) -3.380 (-0.592%) opened down 1.3% and 1.5%, respectively. LQKJ (688008.SH) -8.980 (-4.383%) opened down 1.9%. Optical fibre stock YANGTZE OPTICAL FIBRE (601869.SH) -3.340 (-1.230%) opened down 0.3%. Memory chip stock GIGADEVICE (603986.SH) -27.600 (-7.290%) opened down 3.5%. SEMIGHT INSTRUMENTS (688808.SH) +33.220 (+2.026%) opened down 3.1%.
"New King of IPOs" CXMT (688825.SH) -1.980 (-3.669%) opened down 2.7%. According to reports, the company's sixth-generation low-power double data rate memory standard (LPDDR6) is nearing the end of the R&D verification stage.
The State Council executive meeting approved four nuclear power projects including the first-phase project in Zhuanghe, Liaoning, with total investment expected to exceed RMB170 billion. Nuclear power stocks bucked the market trend, with LIBERT (605167.SH) +1.310 (+10.008%) and JIANGSU SHENTONG (002438.SZ) +1.270 (+10.000%) both opening more than 9% higher. (jl/a)(A Shares quote is delayed for at least 15 mins.)