Last week, blue-chip stocks collectively surged, driving the NBD Brand 100 Index to a weekly gain of 1.90%, closing at 1,122.21 points. Sixteen constituent stocks saw their market capitalization increase by over RMB 10 billion for the week.

In the future, as improving market risk appetite spreads profit-making effects, capital inflows will become a key driver of upward market trends.

Vipshop and China Resources Land Soar

Recently, the U.S. implemented reciprocal tariffs, while China and the U.S. agreed to another 90-day suspension of reciprocal tariffs, improving market expectations. Boosted by rising trading volumes and a recovery in market risk appetite, major A-share indices posted gains across the board last week.

Notably, as the Shanghai Composite Index briefly broke through the 3,700-point mark, the daily trading volume of the A-share market has remained above RMB 2 trillion for three consecutive trading days. The margin trading and securities lending balance has continued to grow, surpassing the RMB 2 trillion threshold for the first time since 2015 and reaching above RMB 2.05 trillion. This reflects investor optimism and serves as a key indicator of incremental capital in the A-share market.

Among the NBD Brand 100 Index constituents, Vipshop and China Resources Land rose over 10% last week, with gains of 12.97% and 11.15%, respectively. Fifteen other stocks, including PICC, C&D Inc., Longfor Group, China Pacific Insurance, and Shanghai Electric, posted weekly gains exceeding 5%.

In terms of market capitalization growth, 16 constituent stocks of the NBD Brand 100 Index saw weekly increases of over RMB 10 billion. Tencent Holdings led the pack with a RMB 293.793 billion rise in market cap. CATL, Agricultural Bank of China, China Life Insurance, and Xiaomi Group also saw their market caps grow by more than RMB 40 billion.

Securities firms noted that recent overseas market reactions to U.S. reciprocal tariffs have been relatively muted, with overall strength maintained. The market is in a relatively favorable environment, and the A-share market is expected to continue exhibiting wide fluctuations with a gradual upward trend in the latter half of August.