China Stocks Fall: Shanghai Composite Down 1.18%, Shenzhen Component Down 1.08%

The breadth is the story here, not the index moves: with roughly 4,500 decliners against 605 advancers, the session reads as broad de-risking rather than rotation out of a single sector. Heavyweight financials and resources dragging while smaller themes like MLCC, defense and film hold up suggests money is narrowing into niche trades, not leaving the market outright. Whether that lopsided breadth persists or reverses is the open question.