A-shares opened lower but reversed course, with all three major indices turning positive. The Shanghai Composite Index rose 0.4%, while the ChiNext Index gained 0.03% after earlier dropping over 1%. Solar, lithium battery, and computing hardware sectors led declines, while cultivated diamonds and ultra-hard materials concepts retreated. Pharmaceutical commerce, oil & gas, brain-computer interfaces, and insurance sectors topped gains.

Analysts project a low-volatility slow bull market for A-shares by 2026, with CITIC Securities strategist Qiu Xiang forecasting sustained upward momentum, though at a moderated pace according to China Securities economist Huang Wentao.

Hong Kong markets opened higher, with the Hang Seng Index up 0.22% and the Hang Seng Tech Index gaining 0.26%. New consumption concept stocks extended gains alongside biopharma, automotive, and building materials shares. Solar, paper, and lithium battery stocks underperformed.

Bond markets mostly advanced, with the 30-year futures contract up 0.05%. Commodities were mixed, with crude oil futures rising over 2%.

Key developments: - 10:16: All three major indices turned positive, with over 2,100 stocks rising across Shanghai, Shenzhen, and Beijing markets. - 10:14: Hang Seng Index expanded gains to 1% intraday, with JD Health surging over 5%. - 10:03: Memory chip stocks rebounded, with Puya Semiconductor rising over 7% after SanDisk announced a 50% NAND flash price hike. - 9:54: Shanghai Composite turned positive (+0.16%) as Shenzhen and ChiNext pared losses. - 9:37: Pharmaceutical commerce stocks rallied sharply, with Hefu China logging 11涨停 in 12 sessions.

Earlier trading: - Treasury futures opened mostly higher - Convertible bond index dipped 0.07% at open - Mainland indices opened down 0.15%-0.75% - Hong Kong opened higher with XPeng up 2% while NIO dropped 4% - CNY midpoint strengthened 33 pips to 7.0833 - Commodity futures opened mixed with crude up 2% - FTSE China A50 futures edged up 0.06%