Midday Market Update: All three major indexes are down more than 1%, while the consumer staples sector is showing strength against the trend.

The market experienced a morning shakeup, with all three major indexes falling more than 1%. The consumer goods sector showed strength against the trend, with beauty and skincare, film and television, and food leading the gains. Stocks such as Lafang Home, Zhejiang Wenyi Film, Hengdian Film and Television, and Haixin Food all hit their daily limit up. On the downside, the space photovoltaic concept saw adjustments, with Junda shares and Shuangliang Energy falling to their daily limit down; the precious metals sector also saw declines, with Hunan Gold and Hunan Silver hitting their daily limit down. Most stocks fell while few rose, with over 3700 stocks on the Shanghai, Shenzhen, and Beijing markets displaying losses. Total turnover in the morning was 1.46 trillion yuan. By the midday closing, the Shanghai Composite Index fell by 1.03%, the Shenzhen Component Index fell by 1.81%, and the ChiNext Index fell by 1.94%.