China A-shares opened lower and weakened into the midday session; ChiNext Index
fell 4.32% at the break, Shenzhen Composite down 3.37% and Shanghai Composite
down 1.74%. Market breadth was weak with more than 4,800 stocks down and
half-day turnover above 1.1 trillion yuan. Power stocks outperformed, Zhejiang
Xinneng hit the daily limit. Autos strengthened, with JAC Motors and Zotye Auto
hitting daily limits. Cybersecurity names moved higher, Yongxin Zhicheng and
Zhongxin Saike hit limits. Pork-related shares saw localized gains, Dongrui hit
the limit. CPO-related names plunged, Xiangtong Optoelectronics and FiberHome
hit limit-down. Telecom equipment, electronic components, semiconductors and
non-ferrous metals were among the worst-performing sectors.
