A-Share Market Rises, Volume 2.3 Trillion Yuan; GigaDevice Chairman Proposes 1-2 Billion Yuan Buyback, 1
On July 29, China's A-share market rebounded during the session, with the three major indices closing higher. Total turnover on the Shanghai and Shenzhen exchanges reached 2.3 trillion yuan, up 270.8 billion from the previous day. Over 4,200 stocks advanced, led by consumer staples, retail, financials, and edge AI, while brain-computer interface stocks declined. GigaDevice Chairman Zhu Yiming proposed a share buyback of 1 to 2 billion yuan for cancellation, and plans to increase his stake by at least 1 billion yuan in a future period.
On July 29, the market rebounded after hitting intraday lows, with the three major indices closing higher across the board. The consumer staples sector strengthened, retail concept stocks were active, the financial sector rose in the afternoon, edge AI concept stocks surged, the power grid equipment sector recovered, and solid-state battery concept stocks gained. Brain-computer interface concept stocks fluctuated and declined. More than 4,200 stocks advanced. Total turnover in the Shanghai and Shenzhen markets reached 2.3 trillion yuan, up 270.8 billion yuan from the previous trading day. Over 20 funds posted single-day gains exceeding 3.5%.
GigaDevice announced that Chairman Zhu Yiming proposed the company repurchase A-shares through centralized bidding, with total buyback funds of not less than 1 billion yuan and not more than 2 billion yuan. All repurchased shares will be cancelled to reduce registered capital. Zhu Yiming committed not to reduce his holdings in the company for the next 12 months, and plans to increase his stake from December 13, 2026 to July 29, 2027, with an increase amount of not less than 1 billion yuan.