China's major indices edged lower at midday as the semiconductor rout intensified, with chipmakers like SMIC sliding over 5% on weak global tech sentiment. New Energy holdings were largely flat despite internal divergence, while high-weight banks provided a defensive cushion.
Chinese market temperature reads bullish — driven mainly by elevated valuations (around the 79th historical percentile), with breadth also supportive (near the 65th historical percentile). Today's session is lifted mainly by policy stimulus expectations boosting domestic demand sectors.