A-shares closed lower: Shanghai Composite -1.85%, Shenzhen Composite Index -1.97%, ChiNext Index -2.95%. Combined turnover on the Shanghai and Shenzhen exchanges exceeded 2.4 trillion yuan; more than 2,300 stocks advanced. Pharmaceuticals outperformed and cinema chains staged an intraday recovery, while the semiconductor chain broadly weakened—semiconductor equipment continued to fall and memory-chip names extended losses. Shenghui Jicheng and Demingli hit limit-down for a second consecutive day

A-shares closed lower: Shanghai Composite -1.85%, Shenzhen Composite Index -1.97%, ChiNext Index -2.95%. Combined turnover on the Shanghai and Shenzhen exchanges exceeded 2.4 trillion yuan; more than 2,300 stocks advanced. Pharmaceuticals outperformed and cinema chains staged an intraday recovery, while the semiconductor chain broadly weakened—semiconductor equipment continued to fall and memory-chip names extended losses. Shenghui Jicheng and Demingli hit limit-down for a second consecutive day; GigaDevice (Zhaoyi Chuangxin) hit the limit today.