China’s ChiNext and STAR 50 Fall Over 2% as Shanghai Composite Drops 1.48%

The breadth of the selloff — over 5,000 decliners across all three exchanges — matters more than the headline index moves, since it points to a market-wide risk-off shift rather than weakness confined to one sector. The clustering of losses in precious metals alongside computing hardware and semiconductors is notable: it pairs a defensive asset with growth-sensitive tech, suggesting deleveraging rather than a simple rotation. Whether that breadth persists into the next session, or narrows back to tech, is the open question worth watching.