A‑shares opened lower and slid through the session; ChiNext briefly fell more than 8% intraday and closed down 7.15%. Shanghai Composite -3.05%; Shenzhen Component -5.40%. Combined turnover 2.65 trillion yuan, up 251.4 billion yuan vs prior session. Power sector outperformed, with several regional generators hitting daily limit-ups and Jiawei New Energy up >10%. Major banks showed resilience: China Construction Bank, Bank of China, Industrial & Commercial Bank of China and Agricultural Bank of C

A‑shares opened lower and slid through the session; ChiNext briefly fell more than 8% intraday and closed down 7.15%. Shanghai Composite -3.05%; Shenzhen Component -5.40%. Combined turnover 2.65 trillion yuan, up 251.4 billion yuan vs prior session. Power sector outperformed, with several regional generators hitting daily limit-ups and Jiawei New Energy up >10%. Major banks showed resilience: China Construction Bank, Bank of China, Industrial & Commercial Bank of China and Agricultural Bank of China led gains. Semiconductor names plunged — multiple chip stocks hit limit-down and more than 50 stocks fell >10%. CRO/contract drug‑development stocks and optical‑fiber/telecom equipment sectors also sharply corrected, with numerous limit-downs and widespread >10% declines (ZTE among the weak names).