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Analyst recaps Chinese stock market's Tuesday performance

China

China

China

Analyst recaps Chinese stock market's Tuesday performance

2025-07-29 17:59 Last Updated At:23:47

Chinese stocks closed higher on Tuesday, with the benchmark Shanghai Composite Index up 0.33 percent to 3,609.71 points.

The Shenzhen Component Index closed 0.64 percent higher at 11,289.41 points.

The combined turnover of these two indices stood at about 1.8 trillion yuan (about 251.71 billion U.S. dollars), up from 1.74 trillion yuan the previous trading day.

Stocks related to drug development and steel led the gains, while stocks related to pets and pork suffered major losses.

The ChiNext Index, tracking China's Nasdaq-style board of growth enterprises, increased 1.86 percent to close at 2,406.59 points.

Wang Tianyu, a market analyst and business reporter for China Global Television Network (CGTN), recapped Tuesday's Chinese stock market performance, with analysis as follows:

"The market remained a relatively moderate performance today. The Shanghai Composite Index closed at around 3,609, which is up just 0.33 percent from yesterday. Meanwhile, the Shenzhen Component closed at nearly 11,289, which is gaining about 0.6 percent. High-tech innovation and startups remain the main focus of mainland's stock market. The STAR 50 Index, which tracks the performance of leading tech firms listed on Shanghai's STAR Market, jumped 1.45 percent. Similarly, the ChiNext Index, which is an Nasdaq-style subsidiary of the Shenzhen Stock Exchange, climbed 1.86 percent," he said.

Analyst recaps Chinese stock market's Tuesday performance

Analyst recaps Chinese stock market's Tuesday performance

The Republic of Korea (ROK)'s former impeached President Yoon Suk-yeol on Friday was sentenced to five years in prison on arrest obstruction charges.

The criminal division of the Seoul Central District Court in charge of Yoon's obstruction of justice case handed down the prison sentence to Yoon for abusing the presidential security service to hinder the anti-corruption agency from executing its arrest warrant in January 2025.

The Corruption Investigation Office for High-ranking Officials (CIO) was once thwarted in its attempt to arrest Yoon as the presidential security service formed human shields and bus blockades to prevent investigators from entering the presidential residence.

The team of Cho Eun-suk, an independent counsel who led investigations into Yoon's insurrection and other charges, demanded a 10-year prison term for Yoon.

The court said Yoon privatized the presidential security service for personal safety and private interests by blocking the law enforcement agencies' lawful execution of an arrest warrant and attempting to destroy evidence, pointing out that despite the very bad nature of his crime, he consistently offered unconvincing excuses and showed no remorse.

The court stressed that severe punishment was necessary, considering the need to restore the rule of law damaged by Yoon's crime, but it noted that the fact that he was a first-time offender with no criminal record was considered a favorable factor.

The sentencing, which was broadcast live, was Yoon's first verdict coming from his botched martial law bid.

The first-instance sentencing for Yoon's insurrection charges was scheduled for Feb 19. The special counsel sought a death penalty for Yoon on the charges.

Yoon declared emergency martial law on the night of Dec 3 in 2024, but it was revoked hours later by the National Assembly.

The constitutional court upheld a motion to impeach Yoon in April 2025, officially removing him from office.

The ousted leader was indicted while in detention in January 2025 on charges of leading an insurrection, becoming the first sitting ROK president facing such prosecution.

ROK ex-president Yoon sentenced to 5 years in prison on arrest obstruction charges

ROK ex-president Yoon sentenced to 5 years in prison on arrest obstruction charges

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