Chinese equities pared early losses by midday. Shanghai Composite was down 1.26%
at the break, Shenzhen Composite down 2.49% and the ChiNext Index down 2.83%
after an open that saw Shanghai fall over 2% and Shenzhen/ChiNext fall over 3%.
Oilfield services and oil & gas exploration led gains — Keli Co. +14%, Tongyuan
Petroleum +6% — while speed-reducer names rallied, with Fengguang Precision
hitting the daily limit, Lude Harmonic +11% and Ningbo Dongli also limit-up.
Construction machinery names spiked then pulled back; Wantong Hydraulics +17%.
Insurers, banks and automation-equipment stocks showed early strength; MLCC,
precious metals, CPO, semiconductors and airport/airline-related names lagged.
Combined Shanghai-Shenzhen turnover for the half session was about 1.77 tln
yuan, down 109.7 bln yuan versus the same period yesterday. Market breadth:
roughly 900 advancers and 4,500 decliners.
