A-shares recover in afternoon, narrowing losses; liquor and banking sectors lead gains

Price Action

โดย 澎湃新闻·Read original

Summary · why it matters

China's three major A-share indices narrowed their losses after a collective lower open on July 30. The Shanghai Composite Index fell 0.62% to 3,804.69 points, the Shenzhen Component Index dropped 2.73% to 13,285.8 points, and the ChiNext Index declined 3.97% to 3,244.62 points. Total turnover on the Shanghai and Shenzhen exchanges reached 2.3428 trillion yuan, an increase of 46.2 billion yuan from the previous trading day. Banking stocks led the gains, with Shanghai Pudong Development Bank and Shanghai Rural Commercial Bank rising over 3%. The food and beverage sector strengthened, with Juneyao Health and Jinhui Liquor hitting their daily limit up. Meanwhile, semiconductor and electronics sectors saw sharp corrections, with nearly 40 stocks such as Allwinner Technology and over 80 stocks including Zhongfu Circuit falling by their daily limit or dropping over 10%. Institutions believe the market bottom is largely clear, and allocation strategies can follow the current themes of risk aversion and pro-cyclicality.