China’s Three Major Stock Indices Fall Over 2%; Nearly 5,100 Stocks Decline

The breadth of the selloff is the real signal here: with nearly 5,100 names lower and roughly 140 down more than 9%, this reads as a broad de-risking rather than a sector-specific repricing, even though computing hardware, chips, precious metals and pharma led the drop. The clustering of semiconductors and precious metals at the bottom is notable, since those two groups have carried very different narratives, so their falling together points to liquidity and sentiment pressure over fundamentals. Whether the decline stays concentrated in these high-beta segments or spreads into defensives is the open question worth watching.