A-shares diverged in morning trade. Shanghai Composite +0.2% at midday, Shenzhen Composite -1.13%, ChiNext -2.18%. Combined turnover on the Shanghai and Shenzhen bourses topped CNY1.8 trillion. More than 3,200 stocks advanced. Military and livestock farming sectors led gains; medical services and innovative-drug stocks were active, with Baihua Pharma recording a fifth consecutive daily limit-up. Advanced packaging and CPO sectors were among the biggest decliners; optical/component names weakened

A股煤化工板块走高，金牛化工涨停，江苏索普、华昌化工、诚志股份、宝丰能源、鲁西化工等纷纷走高。

The Financial Times reports a former senior U.S. intelligence official warned that in a second term Donald Trump is following a 'dictator's playbook,' weakening checks on his power and degrading U.S. security. Trump, who pledged to fight the 'deep state' on returning to the White House, has sought to suppress critics and demand personal loyalty. Former CIA station chief Paul Kolbe said dictators follow a common script for seizing and exercising power that mirrors current U.S. developments. National security lawyer Mark S. Zaid, whose security clearance was revoked by the White House last year and who is in legal dispute with Trump, warned the president will continue to consolidate power: All safeguards have been removed, the worst is far from over.