Chinese A-shares closed sharply lower: Shanghai Composite -1.16%, Shenzhen Composite -4.52%, ChiNext -7.35%, STAR 50 -6.33%. Turnover CNY 2.03 trln, down CNY 50.8 bln vs prior session. More than 2,700 stocks fell. C Changxin recorded turnover >CNY 44 bln, down >4%, market cap CNY 3.14 trln. Brain‑computer interface names extended gains; Chuangxin Medical logged three limit-ups in four sessions, Seili Medical and Nanjing Panda posted two consecutive limit-ups. Lithography stocks active in the mor

Chinese A-shares closed sharply lower: Shanghai Composite -1.16%, Shenzhen Composite -4.52%, ChiNext -7.35%, STAR 50 -6.33%. Turnover CNY 2.03 trln, down CNY 50.8 bln vs prior session. More than 2,700 stocks fell. C Changxin recorded turnover >CNY 44 bln, down >4%, market cap CNY 3.14 trln. Brain‑computer interface names extended gains; Chuangxin Medical logged three limit-ups in four sessions, Seili Medical and Nanjing Panda posted two consecutive limit-ups. Lithography stocks active in the morning—Zhangjiang Hi‑Tech, Bochang Optoelectronics, Yongxin Optical and Haili hit daily limits. Baijiu sector firmed, with Jinzhongzi Liquor at limit-up. AI hardware and related segments tumbled: CPO concept plunged—Cambridge Technology, Dongshan Precision and Guangxun Technology hit limit-downs; Xinyisheng, Yuanjie Technology and Zhongji Xuchuang fell more than 15%. Storage chip names were hit hardest: Xi’an Yicai hit a 20% limit-down, while GigaDevice, XinJieneng and Tongfu Microelectronics were among several stocks at limit-down.