China’s Shanghai Composite Falls 1.59% to 3,707.48 as Small-Cap Indexes Sink

The day's pattern is the story: losses deepened steadily down the market-cap scale, from the CSI 300's comparatively mild decline to the CSI 1000's outsized drop. That gradient points to pressure concentrated in smaller, more domestically oriented names rather than a uniform repricing of large caps, which matters for anyone reading breadth as a sentiment gauge. Whether that small-cap underperformance persists or reverses is the open question to watch.