A-share benchmarks rallied sharply in the afternoon. Shanghai Composite +2.16%, Shenzhen Composite Index +4.22%, ChiNext +6.40%, STAR 50 Index +9.92% at close. Combined Shanghai/Shenzhen turnover topped CNY 2.0 trillion for the first time in 25 trading days; broad-based ETFs saw sustained heavy volume and more than 4,600 stocks advanced. Precious metals and compute-hardware names led the afternoon breakout; wind and photovoltaic renewables and innovative-drug stocks also outperformed. Defensive

A-share benchmarks rallied sharply in the afternoon. Shanghai Composite +2.16%, Shenzhen Composite Index +4.22%, ChiNext +6.40%, STAR 50 Index +9.92% at close. Combined Shanghai/Shenzhen turnover topped CNY 2.0 trillion for the first time in 25 trading days; broad-based ETFs saw sustained heavy volume and more than 4,600 stocks advanced. Precious metals and compute-hardware names led the afternoon breakout; wind and photovoltaic renewables and innovative-drug stocks also outperformed. Defensive sectors including baijiu, livestock and banks weakened in the afternoon, while dairy underperformed for the session.