# Huatai Securities

A‑share Opening Slip: Chips, Fiberglass and Optical-Communications Names Lead Early Decline as Brokers Tout Cyclical, Green Winners

China’s A‑share indices opened lower on Friday with semiconductor, fiberglass and optical‑communications sectors leading losses. Domestic brokerages framed the move as part of a rotation from high‑valuation tech names into cyclical heavy assets and green‑energy applications that could benefit from policy shifts and global carbon regulations.