China’s ChiNext Falls Over 1% as More Than 4,300 Stocks Decline

The breadth of the decline — over 4,300 losers against a handful of limit-up wind and semiconductor names — suggests money is rotating into narrow policy-adjacent themes rather than leaving equities outright, since turnover stayed elevated. That divergence, not the index-level move, is the signal: a broad tape where only a few sectors hold bids tends to reflect concentrated positioning. Whether wind and chip names can keep attracting flows while the rest of the market bleeds is the open question.