On May 28, 2026, the three principal A-share indices—the Shanghai Composite Index, the Shenzhen Component Index, and the ChiNext Index—opened on a positive note and subsequently traded within a tight range throughout the session. The Shanghai Composite Index eked out a modest gain of 0.02%, while the Shenzhen Component Index and the ChiNext Index slipped by 0.26% and 0.31%, respectively. Notably, trading volume across the two bourses surpassed RMB 1 trillion for the second consecutive day, signaling robust market activity. Meanwhile, sector rotation picked up pace, with certain industries emerging as clear winners and others facing notable headwinds.

Leading the charge were the communication equipment, semiconductor, and aerospace and military sectors. Hua Hong Semiconductor, a standout performer, surged over 16% to reach an all-time high, underscoring investor enthusiasm for the semiconductor space. Changyingtong also soared more than 16%, while Shenglu Telecommunication and TCG Lightwave climbed over 7% and 5%, respectively, reflecting broad-based strength in the tech and defense-related segments.

On the flip side, precious metals, white liquor, and securities sectors bore the brunt of the selling pressure. Chifeng Gold tumbled more than 4%, Luzhou Laojiao retreated over 3%, and Everbright Securities shed more than 2%, highlighting the rotational shift away from these traditionally defensive or cyclical plays.