A-share storage-chip sector rallied in the afternoon; Demingli pushed toward the daily limit, while Hongban Technology, Baiwei Storage, Wantong Development, Dapu Micro and Jiangbolong also jumped higher.

At an Oct. 21 regular briefing, Foreign Ministry spokesperson Mao Ning said China’s position on the Ukraine crisis remains consistent and that China will continue to actively promote mediation and a political settlement. Asked whether Ukraine would be included in a potential China-Russia-US leaders' meeting, Mao said she had no information to offer.

Beijing Business Daily says the A-share market is driven by reallocation among existing funds, with frequent sector rotation. Although indices have posted a choppy rebound, the absence of coordinated capital flows makes a broad-based rally unlikely. Overall market capital remains stable but cannot cover all sectors and names; persistent structural divergence and sector-led rallies will be the prevailing market feature, requiring investors to adjust positioning.