Shanghai Composite slips to near 1-month low; tech sells off
The Shanghai Composite falls 0.5% to 3,863 and the Shenzhen Component drops 1.2% to 13,622 as both benchmarks sink to nearly one-month lows amid broad technology-stock selling.
The Shanghai Composite fell 0.5% to 3,863 on Tuesday, while the Shenzhen Component dropped 1.2% to 13,622, with both benchmarks sinking to their lowest levels in nearly a month as a broad selloff in technology stocks weighed on sentiment across Asian markets.
Investors continued to trim exposure to the sector ahead of a pivotal earnings week, with Nvidia’s results on Wednesday expected to test confidence in the artificial intelligence trade.
In China, Eoptolink Technology declined 1.7% even after reporting a 100.34% surge in annual revenue and a 90.98% jump in net profit.
Other major decliners included SMIC (-1.7%), Hygon Information Technology (-1.7%), and Zhongji Innolight (-2.3%).
Meanwhile, investors also turned their attention to the National People's Congress Standing Committee meeting, which runs from August 25 to August 28, for potential policy signals aimed at supporting growth amid slowing economic momentum.