China's major stock indices closed sharply lower on September 28, with the Shanghai Composite down 1.67% to 3823.62, Shenzhen Component down 3.44% to 12858.75, CSI 300 down 2.22% to 4340.76, ChiNext down 4.53% to 3139.82, and STAR 50 down 4.06% to 1555.98.
The broad-based decline was steepest in smaller-cap, growth-heavy gauges like ChiNext and STAR 50, both falling over 4%, while the large-cap Shanghai Composite fell least. This pattern suggests selling pressure hit higher-valuation growth and tech-linked shares harder than blue-chip stocks.