China’s A-share market showed a divergent pattern on Aug. 21 as the Shanghai Composite Index closed marginally higher at 3,905.2 points, up 0.04%, while the Shenzhen Component Index rose 0.87% to 14,094.17 points and the ChiNext Index advanced 1.43% to 3,545.58 points. The STAR Composite Index settled at 1,956.85 points, down 0.05%. Combined turnover on the Shanghai and Shenzhen exchanges reached 1.88 trillion yuan, down 200.1 billion yuan from the prior session. Precious metals, oil, consumer electronics and battery stocks led gains, with Hunan Silver and Shengda Resources hitting daily limit-up in nonferrous metals, while agricultural cultivation and pharmaceutical sectors lagged. More than 2,800 stocks closed lower, reflecting narrow market breadth. Hong Kong stocks also advanced, with the Hang Seng Index up 1.21% and Hang Seng Tech Index up 1.4%; AI-related names MINIMAX and Zhipu surged over 10%, while precious metals names Laopu Gold and Zijin Mining rose 7% and 5%. The rotation into precious metals and nonferrous metals occurred against global economic uncertainty and risk aversion, with investors seeking safe-haven assets. The pharmaceutical sector faced selling pressure linked to policy shifts and profit-taking. The ChiNext gain highlighted relative strength in growth stocks, while consumer electronics and battery sectors benefited from new energy supply chain optimism. However, lower turnover indicated limited appetite for rallies in a stock-for-stock competition phase with rapid sector rotation and no clear directional catalysts.