Xin Yong An Guo Ji Zheng Quan·2025-07-29 02:33Market Performance - A-shares experienced fluctuations, with the Shanghai Composite Index rising by 0.12% to 3597.94 points, the Shenzhen Component increasing by 0.44%, and the ChiNext Index up by 0.96%[1] - The Hong Kong Hang Seng Index rose by 0.68% to 25562.13 points, while the Hang Seng Tech Index fell by 0.24%[1] Economic Developments - The U.S.-China trade talks focused on extending the tariff truce and issues like fentanyl, with reports indicating the U.S. has frozen technology export restrictions to China[1] - China announced a nationwide childcare subsidy program, providing 3600 yuan (approximately $502) per child per year for families with children under three years old, expected to benefit over 20 million families annually[1][12] Industry Insights - The pharmaceutical sector saw significant gains, particularly in innovative drugs, contributing to market momentum[1] - China’s budget deficit reached a record high in the first half of the year, with increased fiscal spending aimed at mitigating the impact of tariffs[12]