Chinese shares opened flat and traded choppily; the Shanghai Composite dipped
below 4,000 intraday and ChiNext fell over 2% early before all three major
indexes rallied into the close. At settlement, Shanghai Composite +1.16%,
Shenzhen Composite Index +0.19%, ChiNext +0.54%. Turnover on Shanghai and
Shenzhen exceeded 3.5 trillion yuan. Innovative-drug names led gains, with
multiple small-cap drug stocks hitting the 20% daily limit. Liquor,
animal-husbandry, medical-service and precious-metal sectors outperformed;
semiconductors were intermittently active and industrial-gas stocks strengthened
in the afternoon with several limit-ups. Compute-hardware concepts plunged;
glass/fiberglass, energy-equipment, shipping and copper-clad-laminate sectors
were among the heaviest decliners. Market breadth was positive with over 2,400
stocks rising.
