A-shares were mixed as the SSE Composite closed flat while the ChiNext rose ~1.4%, led by lithium battery heavyweight CATL. Growth sectors outperformed but breadth was weak, with decliners far outnumbering advancers. Real estate and consumer staples were the main drags on the SSE.
Chinese market temperature sits in neutral territory — shaped mainly by elevated valuations (near the 83rd historical percentile) rather than trading mood, with a low share of advancing stocks (around the 28th historical percentile). No single catalyst stood out today; the market is searching for a fresh direction.