The A-share market experienced a downturn on July 16, with major indices falling significantly. The ChiNext Index dropped by 2.95%, while the Shenzhen Component Index decreased by 1.97%. The Shanghai Composite Index also fell by 1.85%. The combined turnover of the Shanghai and Shenzhen stock markets was 2.4 trillion yuan, marking a reduction of 167.6 billion yuan from the previous trading day. Market activity was mixed, with over 2,800 stocks declining. The semiconductor industry chain saw a collective downturn, with the semiconductor equipment sector continuing to weaken. Notably, Shenghui Integration and Demingli both hit their second consecutive daily limit down. In contrast, the pharmaceutical sector showed resilience, with Harbin Pharmaceutical Group achieving its fifth consecutive daily limit up. Additionally, the on-device AI and film sectors showed strength, with several companies hitting daily limit ups.