ChiNext Index Closes Down Over 1% After Intraday Reversal; Nearly 3,000 Stocks Fall in China

The reversal matters less for the headline loss than for what it says about follow-through: an early gain that fails to hold, with decliners concentrated in the growth-heavy segments that have driven the ChiNext narrative, points to sellers using strength rather than buyers defending dips. The breadth figure is the more telling signal — a fall of nearly 3,000 names across all three exchanges suggests this was not an isolated rotation out of a few crowded themes. Whether that breadth persists into the next session, or narrows back to specific sectors, is the open question.