Beijing, July 1st (Reporter Chen Kangliang) On the first trading day of July, the overall performance of China's A-share market was stable, with more rises than falls among the main stock indexes. Among them, the Shanghai Stock Exchange Composite Index achieved a 'red opening' in July, reaching a new high this year.

By the end of the trading day, the Shanghai Stock Exchange Composite Index closed at 3457 points, with a gain of 0.39%; the Shenzhen Stock Exchange Composite Index closed at 10,476 points, with a gain of 0.11%; the ChiNext Index closed at 2,147 points, down 0.24%. The total trading volume of the Shanghai and Shenzhen stock markets was about 1.466 trillion yuan, a decrease of about 208 billion yuan from the previous trading day.

In terms of sectors, according to the statistics of Eastern Wealth, a financial data service provider, the innovative drug concept sector rose by 3.28% on the day, ranking first in terms of increase. In terms of individual stocks, Frontline Biology, Guizhou Bailing, Seli Medical, and Anglikang all saw their stock prices soar to the ceiling on the day; among them, Frontline Biology recorded a gain of about 20%.

On the news front, the National Medical Insurance Administration and the National Health Commission of the People's Republic of China recently issued 'Several Measures to Support the High-quality Development of Innovative Drugs'. Among them, it is mentioned to increase support for the research and development of innovative drugs, support the inclusion of innovative drugs in the basic medical insurance drug list and the innovative drug list of commercial health insurance, support the clinical application of innovative drugs, and improve the diversified payment capacity of innovative drugs.

Looking forward to the July trend of A-share market, Zhang Xia, the chief strategist of China Merchants Securities, believes that considering factors such as fiscal efforts and boosting consumption, China's economy is expected to improve marginally in the second quarter. The performance of listed companies in technology, consumption, and midstream manufacturing sectors may improve, and the upcoming mid-year financial report season is expected to become a driving force for the upward trend of A-share market. In addition, the overall market interest rate is still at a relatively low level, and the strong earning effect of the stock market in the first half of the year has also created favorable conditions for the subsequent upward breakthrough of the index. It is expected that A-share market will pick up in July.