A-shares see strong late-session surges, Zhongyin Fashion hits 20% upper limit

Price Action

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Summary · why it matters

On July 28, major A-share indices declined, with communication and electronics sectors leading the losses, yet over 2,600 stocks rose across the market, and many stocks saw strong rallies in the afternoon or late session. Zhongyin Fashion briefly hit the 20% daily upper limit near the close, with intraday amplitude exceeding 21%, achieving a four-day winning streak. Rongan Property surged in the afternoon to close at the daily limit. Guoxin Health quickly hit the daily limit in the afternoon. Huazhijie rallied strongly in late trading to close at the daily limit, after falling more than 6% in the morning. On the day, the Shanghai Composite Index fell 1.16%, the Shenzhen Component Index dropped 4.52%, the ChiNext Index tumbled 7.35%, and the STAR Composite Index lost 5.93%. Total market turnover once again exceeded 2 trillion yuan. In the communication sector, Eoptolink fell 17.13%, Zhongji Innolight dropped 15.69%, and TFC Communication declined 13.21%. In the electronics sector, Xi'an Yicai-U nearly hit the 20% daily lower limit, while Yuanjie Technology and Puya Semiconductor fell more than 10%. Japanese and South Korean stock markets plunged, with the KOSPI dropping over 10%, SK Hynix falling more than 14%, and Samsung Electronics declining over 13%. The Nikkei 225 fell nearly 4%, and Kioxia tumbled over 18%.