China A-shares opened slightly lower and then diverged; the Shanghai Composite
failed to sustain its rebound while the Shenzhen Composite and ChiNext recovered
from intraday lows. By midday the Shanghai Composite was down 0.24%, the
Shenzhen Composite up 0.11% and the ChiNext up 0.99%; combined turnover on
Shanghai and Shenzhen stood at 928.3 bln yuan and more than 2,700 stocks were
higher. Optical communications led gains, with multiple names hitting daily
limits including Zhishang Technology, Qingshan Paper, Huamai Technology and
Jianqiao Technology; Taichengguang jumped over 12%, while Yuanjie Technology,
Xinyisheng and Zhongji Xuchuang also advanced. PCB concept stocks extended
strength—Guangyang Shares hit the limit, Baiao Intelligent rose more than 15%,
and Dongshan Precision, Jiepute and Zhixin Precision moved higher. Photovoltaic
equipment stocks rallied then retreated; Zerun New Energy and Yamadun hit
limits, Jincheng led gains, but Maiwei fell over 12% and names such as Dongfang
Risheng and Beiteli slipped. Liquor stocks weakened; Huangtai fell more than 5%,
with Shanxi Fenjiu, Luzhou Laojiao, Wuliangye and Kweichow Moutai also lower.
