ChiNext Rises Over 3% at Midday as Over 4,800 A-Shares Gain; October RatingDog Manufacturing PMI Hits 52

The breadth of the rally — over 4,800 A-shares advancing alongside a stronger ChiNext — suggests the PMI beat is being read as a broad risk-on signal rather than a narrow sector story, and the pickup in broad-based ETF volumes hints at participation beyond active traders. The divergence is the more telling detail: Hong Kong tech and mainland growth names are moving together while Kioxia's guidance miss drags on the memory complex, so the region is not trading as one block. Whether the manufacturing momentum implied by an 11th month of expansion can keep carrying equity sentiment is the open question.