Shanghai Composite Opens Down 1.25% at 3605.65

The divergence in the size of the opening drops is the notable detail: the growth-heavy ChiNext and STAR 50 fell roughly two-and-a-half times as much as the blue-chip CSI 300, pointing to a tech-led selloff rather than broad-based risk aversion. That pattern matters most for holders of growth and small-cap exposure, who absorbed the sharpest moves, while large-cap benchmarks held up comparatively better. Whether this size and style gap persists through the session, or the weakness broadens into the large-cap indices, is the open question worth watching.