China A-shares traded weaker into midday. Shanghai Composite -0.35%, Shenzhen
Composite -0.55%, ChiNext -0.15%, Beijing Stock Exchange 50 -1.93% at the break.
Shanghai/Shenzhen turnover 1.09 trillion yuan, down about 117 billion yuan from
the prior session, showing a clear contraction in liquidity. Gas names were
active, with Shuifa Gas hitting the daily limit and Meineng Energy, Guizhou Gas
and Kaitian Gas rallying. Component stocks recovered from early weakness;
Chaosheng Electronics recorded its second limit-up in four sessions while Yihao
New Materials and Jin’an Guoji also hit limits. Power sector strength continued,
with Mindong Electric Power on a two-day run and Huayin Power, Hunan Development
and Xinneng Technology posting limit-ups. CRO names led declines, with Wanbang
Pharma down over 11% intraday and Aopmai and Yiqiao Shenzhou following.
Fertiliser stocks pulled back: Nongda Technology fell more than 7%, with
Kingenta and Nongfa Seed are also weaker.
