China A-shares closed lower: Shanghai Composite -1.61%, Shenzhen Component -2.47%, ChiNext -2.65%. Gold miners plunged—Zhaojin Gold down >8%; Sichuan Gold and Hunan Baiyin off >7%. Minor metals weakened; Dongfang Zirconium down >9%. Innovative-drug names Zhenbaodao and Harbin Pharmaceutical hit limit-downs. Coal miners fell; Dayou Energy hit limit-down. Power, compute, AI corpus, internet services, cross-border payments, planting, new consumption and oil & petrochem were among the heaviest decli

China A-shares closed lower: Shanghai Composite -1.61%, Shenzhen Component -2.47%, ChiNext -2.65%. Gold miners plunged—Zhaojin Gold down >8%; Sichuan Gold and Hunan Baiyin off >7%. Minor metals weakened; Dongfang Zirconium down >9%. Innovative-drug names Zhenbaodao and Harbin Pharmaceutical hit limit-downs. Coal miners fell; Dayou Energy hit limit-down. Power, compute, AI corpus, internet services, cross-border payments, planting, new consumption and oil & petrochem were among the heaviest decliners. Memory-chip stocks were active: Zhichun Technology hit the daily limit, Zhongke Feice rose ~7%. Military sector saw pockets of strength; Changcheng Military hit limit-up. Shanghai-Shenzhen turnover RMB 1.93 trillion, down ~RMB 264.2 billion versus the prior session. Market breadth ~500 advancers versus ~4,900 decliners.