Chinese A-shares closed lower. Shanghai Composite fell 1.44%, Shenzhen Composite fell 2.73%, ChiNext fell 4.13%, Beijing Stock Exchange 50 fell 2.68%, Sci‑Tech Innovation 50 fell 5.48%. Market turnover was CNY1.6744 trillion, up nearly CNY100 billion from the previous session. More than 4,600 stocks declined. Film/cinema names plunged; Wentou Holdings, Hengdian Film & TV, Ciwen Media, Aofei Entertainment and Jiecheng hit daily down limits. CPO and PCB-related concept stocks tumbled—Taichen Guang

Chinese A-shares closed lower. Shanghai Composite fell 1.44%, Shenzhen Composite fell 2.73%, ChiNext fell 4.13%, Beijing Stock Exchange 50 fell 2.68%, Sci‑Tech Innovation 50 fell 5.48%. Market turnover was CNY1.6744 trillion, up nearly CNY100 billion from the previous session. More than 4,600 stocks declined. Film/cinema names plunged; Wentou Holdings, Hengdian Film & TV, Ciwen Media, Aofei Entertainment and Jiecheng hit daily down limits. CPO and PCB-related concept stocks tumbled—Taichen Guang, Xin Yisheng and Shenghong Technology each fell over 13%, and Xin Yisheng’s market value dropped below CNY300 billion. Baijiu remained strong: Huangtai, Gujing Distillery, Yingjia Distillery and Luzhou Laojiao hit daily up limits. Ports and shipping were active; Jinjiang Shipping hit its daily up limit.