AsianFin -- China’s A-share market staged a sharp V-shaped rebound in afternoon trading, with the ChiNext Index leading gains and the STAR 50 Index climbing more than 7%. Semiconductor and AI chip leaders, including Cambricon and SMIC, hit record highs.

Overall turnover on the Shanghai and Shenzhen exchanges reached 2.97 trillion yuan, down 194.8 billion yuan from the previous session, signaling slightly reduced trading activity despite the strong rally.

Market momentum was concentrated in the computing power and chip sectors, with more than 2,800 individual stocks advancing. CPO and other high-performance computing hardware shares maintained strong momentum, while stocks such as Tenshuf Communication continued to hit new all-time highs. Chip stocks broadly rallied, with over ten shares, including Zhangjiang Hi-Tech, hitting their daily upper price limits.

On the downside, pharmaceutical shares pulled back, with Nanxin Pharma and other names falling more than 5%. Sector-wise, CPO, semiconductors, copper foil, and PCB stocks led the advance, while agriculture, weight-loss drugs, apparel, and baijiu sectors were among the weakest performers.