A-shares opened sharply lower; ChiNext opened down 4.99% then recovered intraday
before retreating. At midday the Shanghai Composite was down 1.14%, the Shenzhen
Composite Index down 2.22% and ChiNext down 3.5%. Combined turnover on the two
exchanges exceeded 1.1 tln yuan and more than 4,500 stocks fell. Defensive and
financial groups led gains — livestock, planting, power and banks outperformed.
PV equipment and battery names spiked then pulled back; cultural media and
cinema saw pockets of buying. Compute-hardware stocks fell broadly, with several
sub-sectors among the largest decliners.
