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.
