Shanghai Composite turns negative late in session; Shenzhen and ChiNext gains narrow

A late-session reversal in Shanghai that drags the other two benchmarks off their highs points to fading conviction rather than a broad risk-off move, since Shenzhen and ChiNext held gains even as they narrowed. The absence of any stated catalyst leaves the driver unclear, which itself matters: without a named trigger, the move reads as positioning and profit-taking into the close rather than a reaction to news. Whether the Shanghai reversal carries into the next session, or proves to be a single-session wobble while the growth-heavy boards retain their edge, is the open question worth watching.