China A-share PV equipment sector softened in early trade; Sungrow fell more than 15%, while Ginlong Technology, Chint Power, Dier Laser, GoodWe and Shangneng Electric also declined.

A股CRO概念持续走弱，药明康德跌超6%，美迪西跌超5%，恒瑞医药、成都先导、凯莱英等跟跌。

Foreign and domestic appetite for A‑shares rose in 1H; foreign holdings of A‑shares reached a phase high. China's ETF market is expanding rapidly and long-term funds are becoming a material market force. As of June 30, 187 ETFs launched year‑to‑date, issuing 65.487 billion units, the highest number of H1 launches on record. Industry participants said equity and tech ETF issuance hit a phase high in 1H and has become the core vehicle for institutions and retail to access the tech theme.