China’s ChiNext drops 2.44% as over 4,600 stocks fall

The breadth of the selloff — more than 4,600 decliners against a handful of defensive sector gains — matters more than the headline index move, since it signals risk appetite fading across the board rather than a narrow, sector-specific repricing. The split is telling: gas, liquor and military names drew bids while AI-animation, robotics and precious metals — the speculative and momentum-heavy corners — led the retreat. Whether that rotation into defensives persists, or the midday reversal proves a one-session shakeout, is the open question worth tracking.