China A-shares closed higher after an early dip: Shanghai Composite +0.86%,
Shenzhen Composite Index +0.44%, ChiNext +0.42%. Short-drama-related names led
gains — digital media, cinema chains, AI training-data and short-drama
interactive game stocks produced multiple 20% limit-ups; Mango Excellent Media
and Zhongwen Online both hit 20% limits, while Zhongguang Tianze, Shanghai Film
and Bona Film Group also reached limit-up. AI chip names recovered from a weak
open: Juxin Technology +13%, Xingchen Technology +12%, Rockchip hit limit-up,
Kunlun Wanwei +8%. Liquid-cooled server plays rallied with several stocks,
including Inspur Information, on limit-up. Other strong sectors: components,
LiDAR, consumer electronics, semiconductors, compute/AI infrastructure and
satellite internet. Lagging sectors included precious metals, recombinant
protein, PV equipment, innovative drugs, plantation, chemical pharmaceuticals
and white spirits. Turnover across Shanghai and Shenzhen totaled CNY2.13
trillion, up ~CNY29.3 billion versus the prior session; about 3,000 stocks rose
and ~2,100 fell.
