Chinese stocks closed higher with mixed internals. Shanghai Composite +0.24%,
Shenzhen Composite (Shenzhen Composite Index) +0.59%, ChiNext +0.64% after an
intraday run-up and pullback. Turnover across Shanghai and Shenzhen was 2.08
trillion yuan, down more than 430 billion yuan vs. the prior session. About
4,100 stocks gained. Biotech theme led gains—vaccines, innovative drugs and CROs
surged, with more than 20 names hitting daily limits including Watson Biotech,
Kangtai Biotech and Zhifei Biological. Apple supply-chain plays climbed, several
stocks hit limit up and some rose >10%. Gold-related names spiked then faded;
Shandong Gold and Chifeng Gold were among winners and a few small miners hit
limit up. Real estate names rose in the afternoon; Chengtou Holdings and Jingtou
Development hit daily limits. Underperformers included phosphate and
fluorochemical chemicals, lab-grown diamonds and aero-engine parts. Small metals
slid; several names hit limits down and Northern Rare Earths was weak.
Memory/storage chips fell sharply—multiple suppliers dropped over 8%. Newly
listed C Yushu fell 18.7% on its second trading day with turnover exceeding 9
billion yuan.
