STOCKS | Shanghai Composite Rises 1.16% as Innovative Drug Shares Rally

China’s A-share market closed higher after a volatile session, with the Shanghai Composite Index gaining 1.16%. According to Jin10, the three major A-share benchmarks opened flat, swung throughout the day, and strengthened in afternoon trading to finish in positive territory. The Shanghai Composite briefly fell below 4,000 in the morning before rebounding. The Shenzhen Component Index ended up 0.19%, and the ChiNext Index rose 0.54% after at one point dropping more than 2%. Turnover across the Shanghai and Shenzhen exchanges exceeded 3 trillion yuan, and more than 2,000 stocks declined. Sector performance was mixed. Innovative drug stocks surged broadly, with several names including Wanbang Pharma and Shutaishen hitting the 20% daily limit. Liquor and livestock-related shares also performed strongly. Semiconductor stocks remained intermittently active, while industrial gas concept stocks strengthened in the afternoon, with Guanggang Gas among multiple stocks that hit their daily limit. Medical services and precious metals were among the top gainers. Meanwhile, computing power hardware concept stocks saw a sharp pullback. Glass and fiberglass, energy equipment, shipping, and copper-clad laminate-related concept stocks were among the biggest decliners. The report also said more than 2,400 stocks rose across the market, with total turnover exceeding 3.5 trillion yuan.