ChiNext Index turns negative in afternoon after early gains; optical names slump

The reversal is notable for its concentration: a broad morning rally gave way to a selloff led by a handful of heavyweight optical-component names, suggesting index-level moves are being driven by a narrow leadership group rather than broad participation. That matters for anyone reading ChiNext strength as a signal of general risk appetite in Chinese growth equities. Whether the optical names stabilize or the weakness broadens into other sectors is the open question.