A-Share Market Opens Low, Closes Higher; Shanghai Composite Up 0.4%, ChiNext Up 1.55%
China's A-share market opened lower but closed higher on July 29, with the Shanghai Composite rising 0.4% to 3,828.47 points and the ChiNext index gaining 1.55% to 3,378.7 points. Total turnover across the Shanghai, Shenzhen, and Beijing exchanges reached 2.31 trillion yuan, up 272.7 billion yuan from the previous session. Media and retail sectors led gains, while the electronics sector fell over 5% intraday before paring losses. A total of 4,253 stocks advanced, with 86 hitting the daily limit up. The central bank conducted a net injection of 730.5 billion yuan on the day.
On July 29, China's A-share market opened lower and then moved higher, with major indices turning positive one after another, showing a broad-based rally. A total of 4,253 stocks closed higher. The Shanghai Composite edged up 0.4% to 3,828.47 points, the ChiNext index closed up 1.55% at 3,378.7 points, and the Shenzhen Component Index rose 1.1%. The CSI 300 and Beijing Stock Exchange 50 indices both gained less than 1%, while the SSE 50 and STAR 50 indices edged lower. Market turnover expanded significantly, with total trading volume across the Shanghai, Shenzhen, and Beijing exchanges reaching 2.31 trillion yuan, up 272.7 billion yuan from the previous session. As of July 28, the margin balance across the three exchanges fell to 2.66 trillion yuan.
In terms of sectors, food, cement, furniture, and retail performed well, while passive component concepts, MLCC, virtual robots, and sub-new stocks surged. Semiconductors, computer hardware, general equipment, telecom operations, electronic components, oil and gas, high-bandwidth memory, and photoresist sectors weakened. Among the 31 Shenwan primary industry sectors, only electronics and computer sectors declined, while the rest closed in positive territory. The electronics sector fell more than 5% intraday before narrowing to a loss of 1.13%. Media, retail trade, social services, and steel sectors all gained over 2%. Across the market, 4,253 stocks closed in the green, with 86 hitting the daily limit up; 1,215 stocks closed lower, with 9 hitting the daily limit down. In terms of actively traded stocks, 14 stocks recorded daily turnover exceeding 100 billion yuan, all of which were technology stocks. Changxin Technology surged 12.66% to 52.95 yuan per share, with daily turnover of 44.8 billion yuan; Zhongji Innolight rose nearly 5% to 951 yuan per share, with daily turnover of 43.5 billion yuan; Xinyisheng closed up 3.51% at 421.2 yuan per share; Sanhuan Group gained nearly 8%.
Zhaoyi Innovation hit the daily limit down intraday but recovered in the afternoon, narrowing its loss to 6.81% at 364.03 yuan per share; Dongshan Precision fell nearly 6% to 179.78 yuan per share; Zhongwei Company dropped over 6% to 360 yuan per share; Changdian Technology fell nearly 7% to 71.68 yuan per share; Ziguang and Tongfu Microelectronics both hit the daily limit down.
The central bank conducted a net injection of 730.5 billion yuan on the day. Funds continued to deploy counter-cyclically through ETFs. Several companies announced strong half-year results, large-scale buybacks, and share increase plans. This week, attention is on the late-July Politburo meeting for second-half economic policy direction, the Federal Reserve's interest rate decision, and earnings reports from US tech giants.