A-share memory chip stocks jump in afternoon trade, with Torens up more than 16%

Memory chip names in China’s A-share market moved higher in afternoon trading on July 29, according to BlockBeats. Earlier losses in shares such as Tongfu Microelectronics and GigaDevice narrowed as the sector turned up. Within the segment, Torens rose more than 16%, C Changxin gained more than 6.5%, and Zhengfan Technology climbed more than 10%. Broader market indexes also strengthened during the session. The Shenzhen Component Index was at one point up more than 1% in the afternoon, while the ChiNext Index gained 1.04% and the Shanghai Composite Index rose 0.23%. More than 4,000 stocks across the two exchanges were trading higher.