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Market Commentary - Foreign Markets
China stocks slip on Tech sell-off
30-Jul-2026, 04:53
China's stock markets closed lower on Thursday as investors sold technology stocks to invest in safer sectors. The Shanghai Composite fell 0.62% to 3,804.7, and the Shenzhen Component dropped 2.73% to 13,285.8, marking its lowest close since December 2025. Concerns over high valuations in tech stocks led to a shift towards consumer, property, and high-dividend stocks. Major tech companies, including Cambricon Technologies, SMIC, and Zhongji Innolight, saw significant losses. This selling trend occurred despite Zhongji Innolight's successful HK listing, raising HK$53.4 billion ($6.8 billion).
China's stock markets closed lower on Thursday as investors sold technology stocks to invest in safer sectors. The Shanghai Composite fell 0.62% to 3,804.7, and the Shenzhen Component dropped 2.73% to 13,285.8, marking its lowest close since December 2025. Concerns over high valuations in tech stocks led to a shift towards consumer, property, and high-dividend stocks. Major tech companies, including Cambricon Technologies, SMIC, and Zhongji Innolight, saw significant losses. This selling trend occurred despite Zhongji Innolight's successful HK listing, raising HK$53.4 billion ($6.8 billion).