China stocks closed lower after a weak open and a midday rebound that gave way
to renewed selling. Shanghai Composite fell 0.82%, Shenzhen Composite fell 1.21%
and the ChiNext Index fell 2.73%. Turnover across Shanghai and Shenzhen topped
1.7 trillion yuan; over 3,300 stocks declined. The livestock sector outperformed
and baijiu concepts were strong. The battery sector spiked intraday then
retreated. Compute-power hardware names were weakest and led the market lower,
with CPO, PCB and high-speed copper cabling/connectors among the heaviest
decliners.
