Shanghai Composite Edges Up 0.01% at Midday; ChiNext Falls 1.15%

The flat Shanghai Composite masks a clear divergence beneath the surface: growth-heavy ChiNext and STAR 50 bore the selling while the broad large-cap benchmarks barely moved. That split suggests the pressure is concentrated in higher-beta, tech-oriented names rather than a market-wide repricing, though the CSI 300's modest decline shows the weakness isn't fully ring-fenced. Whether that rotation stays contained to the growth boards or bleeds into the main indices is the open question for the afternoon session.