(Yicai Global) July 29 -- China's mainland stock markets climbed after low openings of the morning, led by chipmakers and Covid-19 drug developers.

The Shanghai Composite Index edged up 1.05 percent to 3,261.76 by the lunch break. The Shenzhen Component Index was at 13,391.04, up 1.85 percent. The ChiNext Price Index, which tracks growth enterprises in Shenzhen, rose 2.41 percent to 2,730.85.

Chip manufacturers jumped collectively nearly 3 percent but some surged as much as 10 percent, including Silan Microelectronics [SHA:600460] that recently secured investment from the China Integrated Circuit Industry Investment Fund.

Medical stocks climbed after an expert suggested that antibody therapies could be effective in preventing Covid-19. Junshi Biosciences [SHA:688180] was one of them, rising 16.6 percent by noon.

Editor: Emmi Laine