A-shares rallied then reversed; all three major indices were down at the midday close after earlier intraday falls of more than 1% near the end of the morning session. At lunch close the Shanghai Composite was down 0.66% below 3,900, the Shenzhen Component fell 0.42% and the ChiNext index slid 0.29%. Oil & gas exploration and services led gains: Lanyan Holdings hit the daily limit, Keli Shares rose about 15%, Tongyuan Petroleum +14%, with Qianeng Hengxin, Zhongman Petroleum and CNOOC Development

A-shares rallied then reversed; all three major indices were down at the midday close after earlier intraday falls of more than 1% near the end of the morning session. At lunch close the Shanghai Composite was down 0.66% below 3,900, the Shenzhen Component fell 0.42% and the ChiNext index slid 0.29%. Oil & gas exploration and services led gains: Lanyan Holdings hit the daily limit, Keli Shares rose about 15%, Tongyuan Petroleum +14%, with Qianeng Hengxin, Zhongman Petroleum and CNOOC Development also higher. Pharmaceutical distributors recovered: Yaoyigou and Renmin Tongtai hit limit-up; Jianfa Zhixin, Huarenn Health and Dashenlin were among the top advancers. Semiconductors plunged: Shanghai Hejing fell over 15%, and Youyan Silicon, Shengke Communication, Huahai Qingke, Hu Silicon Industry and Hangyu Micro all dropped more than 10%. Commercial aerospace stocks extended losses, with more than a dozen names including China Satellite, China Weitong, Aerospace Dynamics, Aerospace Development and Tongyu Communications hitting limit-down.