Mainland Chinese stocks tumbled, with the ChiNext Index sliding 4.37% to below
2,600, down more than 40% from this year’s high. Shanghai Composite fell 1.48%
and Shenzhen Composite dropped 2.96%. Turnover across Shanghai and Shenzhen
totaled 1.53 trillion yuan, roughly 100 billion yuan above the prior session.
Nearly 5,000 stocks declined. Culture and media names plunged with multiple
limit-downs, including Bona Film and Xinhua Media. CROs fell and Lingkang Pharma
hit limit-down. CPO-related shares and DRG and photolithography plays weakened,
with Cambridge Technology among the losers. Bank stocks were locally firm;
Industrial and Commercial Bank of China and China Construction Bank reached new
intraday highs. Humanoid-robot names stayed active—Yifan Transmission hit a 20%
limit-up and several robotics stocks closed at limits. Semiconductors and
advanced packaging staged an afternoon bounce, with Huatian Technology, Dapu
Micro, Demingli and JCET among winners.
