China Stocks Open Sharply Lower; Shanghai Composite Down 0.96%

The growth-heavy ChiNext and STAR 50 fell roughly twice as much as the main Shanghai benchmark, which points to a tech-led drawdown rather than broad-based selling. That pattern matters for crypto and RWA markets because Chinese risk appetite has become a real input into how Asian digital-asset desks read the session. Whether the underperformance of the smaller, innovation-focused boards continues, or the main index catches down, is the open question.