# Counterpoint

A‑Shares End the Lunar Year Lower as Traders Rotate into AI Hardware; Memory and PCB Stocks Lead Sector Divergence

China’s A‑share indices closed lower on the final trading day of the Year of the Snake, with turnover subdued ahead of the Lunar New Year. Investors rotated into robotics, PCB materials and memory‑adjacent stocks after bullish commentary on embodied AI and signs of a sharp rally in DRAM prices, while CPO‑related names plunged.