At midday China stocks fell: Shanghai Composite -1.20%, Shenzhen Composite
-1.77%, ChiNext -1.78%. Precious metals plunged; Sichuan Gold, Hunan Silver and
Zhaojin Gold fell more than 7%. Compute‑power names weakened — ZhengTong
Electronics hit the daily down limit, Meili Cloud fell nearly 8%. Power names
tumbled: Jiuzhou Group, Leshan Power and Hunan Development down over 8%. Other
top decliners included cultivated diamonds, MLCC, energy metals, media, AI
agents and semiconductors. Defense stocks bucked the selloff — Tianqin Equipment
and Beifang Changlong rose over 10%. Fluorochemicals were active, with Xinya
Process, Furi and Kain among several stocks hitting the daily up limit. Turnover
across Shanghai and Shenzhen was about 1.22 tln yuan at midday, down roughly
230.6 bln yuan versus the same period yesterday; roughly 500 stocks rose and
4,900 fell.
