A-shares reversed early gains to close lower: Shanghai Composite -0.30%,
Shenzhen Composite Index -0.79%, ChiNext Index -0.78%. Livestock sector led
advances—pork, poultry, fisheries and feed names strong; Luoniushan, New Hope
and Zhongshui Fishery hit limit-up. Grain names recovered from an early dip;
Yasheng Group and Dunhuang Seed hit limit-up. Maritime equipment outperformed
with China shipbuilding-related stocks leading; China Shipbuilding rose over 9%.
Liquor stocks rallied on a yellow-wine theme; Guyue Longshan and Kuaijishan hit
limit-up. Other notable gainers included tourism & hotels, beverages & food,
digital currency, retail, film, building materials & cement, and AI
applications. Technology stocks broadly pulled back; memory chips, MLCC, CPO,
helium, lithography equipment, PCB, liquid-cooled servers and humanoid-robot
names were among the worst performers. Turnover across Shanghai and Shenzhen
reached 2.03 tln yuan, up roughly 271.8 bln yuan vs. the previous session; about
2,200 stocks advanced and 2,800 declined.
