A-shares opened lower then rallied into the morning; the ChiNext briefly
reclaimed 3,600 points. At noon the Shanghai Composite was down 0.05%, the
Shenzhen Composite Index up 0.65% and the ChiNext up 1.41%. Combined turnover
exceeded 1.5 trillion yuan and more than 2,000 stocks advanced. MLCC stocks led
gains, innovative-drug names were active with Baihua Pharmaceutical posting a
sixth consecutive limit-up, compute-power leasing spiked intraday, commercial
aerospace lagged, while baijiu and non-ferrous metals were retraced.