Shanghai Composite closes up 0.89% at 3,690.48; ChiNext jumps 4.16%

The growth-heavy indices outpacing the broad benchmarks signals a clear risk-on rotation within Chinese equities, with ChiNext's jump far exceeding the Shanghai Composite's gain. That dispersion matters because it suggests appetite concentrated in smaller, higher-beta names rather than a uniform market-wide bid. Whether this growth-over-value skew holds through the next session, or reverts toward the large-cap CSI 300, is the open question worth tracking.