China’s ChiNext and STAR 50 Indexes Fall Over 3% as Shanghai Drops 1.14%

The selloff is concentrated in exactly the growth and hardware complex that has carried China's tech indices, with breadth above 4,900 decliners pointing to a broad de-risking rather than a single-sector story. That matters because semiconductors, computing hardware, consumer electronics and batteries sit at the center of the domestic AI and electrification narrative, so weakness there can spill into sentiment well beyond the main boards. The open question is whether this is a one-day flush or the start of a sustained rotation out of these names.