China's A-share market showed divergent early trade. At midday the Shanghai Composite was up 0.76%, the Shenzhen Composite rose 0.61% and the ChiNext fell 0.65%. Innovative drug names led gains: Changshan Pharmaceutical +20%, with Zhongsheng Pharmaceutical, Joinn New Drug and Shuanglu Pharmaceutical hitting limit-up. AI application stocks were active; Fushi Holdings and Zhewen Interactive hit limit-up. Outperformers included film chains, baijiu, precious metals, property services and gaming; lag

China A-shares closed lower: Shanghai Composite -1.00%, Shenzhen Component -2.29%, ChiNext -4.37%, STAR 50 -5.53%. Turnover rose to 3.39 tln yuan, up 474.8 bln yuan vs the prior session. Innovative-drug names led gains, with Changshan Pharmaceutical, Zhongsheng Pharmaceutical, Joinn Laboratories and Shuanglu Pharmaceutical hitting the 20% daily limit. AI-application names were active; Skyworth Digital and Huanrui Century hit limit-up. The commercial space sector rallied after afternoon news, with Hangtian Huanyu, China Satellite and Zhongtian Rocket among multiple limit-ups. Top sector winners included liquor, wind-power equipment and passenger cars; laggards included electronic chemicals, semiconductors, energy metals, components, securities, rare earths, batteries, advanced packaging and glass substrate plays. More than 3,700 stocks advanced across the market.

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