Shenzhen Composite Index fell more than 4%; component stocks Maiwei Co. down over 12%, Guoci Materials down over 11%.

早盘开盘，国内期货主力合约跌多涨少，沪银跌超7%，沪锡跌超4%，沪金、20号胶、国际铜跌超2%，合成橡胶跌近2%，沪铜、橡胶跌超1%。涨幅方面，尿素涨超2%，粳米、焦煤涨近2%，沥青、集运欧线涨超1%，PTA涨近1%。

IG Group market analyst Ye Junrong said last Friday’s sharp US tech sell-off triggered the Asian tech pullback. A fading AI trade would hit equipment and tools suppliers across the Asian AI supply chain. KRW weakness and potential South Korean policy tightening could raise pressure on leveraged positions. He views the post-runup correction as healthy and says corporate fundamentals remain intact. Risks: forced deleveraging may amplify near-term volatility, and upcoming inf data could lift bond yields and further compress growth stock valuations.