Hong Kong shares closed lower; the HSI fell 0.93% and the Hang Seng Tech Index fell 1.49%. Mainland banks, building materials & cement, pharmaceutical outsourcing and optical communications outperformed, while printed circuit board makers, mainland property developers and high-profile internet/tech names lagged. Nio-SW (09866.HK) dropped more than 6%.

By midday trade the Shanghai Composite was up 0.03%, the Shenzhen Composite down 0.58% and the ChiNext down 0.92%. Grain-related names led gains: Shennong Seed hit a 20% limit-up; Xinsai, Longping Hi‑Tech, Nongfa Seed and Wanxiang Denong also reached trading limits. Tax-refund retail shares rallied, with Maoye Commercial and Cuiwei at limit-up. AI training-data plays strengthened; Mango Excellent Media hit a 20% limit-up while iReader Technology and Zhongguang Tianze also closed at limits. Outperforming sectors included liquor, gaming, coal, new consumption, shipping & ports, insurance and brokerages. Underperformers included MLCC, PCB, CPO, lithography equipment, memory chips, helium, telecom equipment and solid-state batteries. Combined Shanghai and Shenzhen turnover was about 1.34 trillion yuan, roughly 38.2 billion yuan higher than the same session yesterday; advancers numbered ~3,300 versus ~1,800 decliners.

On Sept. 1 local time, CHINA attended the 26th Shanghai Cooperation Organization Council of Heads of State meeting in Bishkek.