China's A-share market showed a rally-then-fade pattern on August 28, with cybersecurity, computing-power hardware, AI office software and related technology themes outperforming while precious metals, coal and vaccines weakened. The ChiNext Index briefly rose more than 1.3% before the Shenzhen Component Index and ChiNext turned negative. As of press time, the Shanghai Composite Index was up 0.16%, the Shenzhen Component Index was down 0.08% and the ChiNext Index was down 0.05%. Nearly 3,300 stocks across the Shanghai, Shenzhen and Beijing exchanges were advancing at one point, although index momentum weakened. Hong Kong's Hang Seng Index and Hang Seng Tech Index opened lower before recovering in choppy trade; they were down 0.14% and up 0.09%, respectively, as most Chinese internet stocks strengthened while chip shares retreated. Cybersecurity stocks rallied broadly, led by Kylinsec's 20% limit-up gain and a more than 15% rise in Qi An Xin. Computing-power leasing, liquid-cooled servers, printed circuit boards and CPO (co-packaged optics) concepts also advanced. The main crude-oil futures contract rose more than 4%, while 30-year Treasury bond futures fell 0.10%. Analysts described the market as a stock-game phase marked by rapid sector rotation, with the durability of the technology rally dependent on follow-through volume and further policy catalysts.