China Stocks Mixed at Midday; Chip Shares Rebound, Shanghai Composite Down 0.1%

The divergence is the story: chip names rebounding while roughly 3,700 stocks fell shows the bid is narrow and concentrated in semiconductors rather than broad-based. The split between a firmer STAR 50 and a softer Shanghai Composite, alongside consumer names hitting limit-down, suggests rotation within the market rather than fresh risk appetite. Heavy morning turnover against such weak breadth is worth noting. Whether chip leadership can hold without wider participation is the open question.