ChiNext falls over 3% as 3,600+ A-share stocks decline

The divergence stands out: a modest pullback on the Shanghai Composite against a sharp ChiNext drop points to pressure concentrated in growth and technology names rather than the broad market. The sectors leading losses — computing hardware, chips, precious metals and AI-drama plays — suggest the selling is thematic, hitting the crowded, narrative-driven corners of the market first. Breadth of more than 3,600 decliners indicates the move was not isolated to a few heavyweights, which matters more than the index levels themselves. Whether the weakness stays confined to these themes or spreads into the wider market is the open question worth watching.