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China Shares Open Mixed as Tech Selloff Lingers

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Chinese shares opened mixed on Friday as the market digested the tech selloff from the previous session.

The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.1% higher to 4,031.34. The Shenzhen Component Index declined 0.1% to 15,480.12.

The tech selloff that started with US semiconductor stocks hit Chinese markets on Thursday. What began as a correction to overblown AI hype has broadened into a general risk-off move, with AI-related shares bearing the brunt.

Meanwhile, a finance ministry official signaled China's interest in boosting World Bank collaboration on shared challenges, particularly through knowledge-sharing, following news that the Bank intends to wind down new lending to China by 2031, restricting financing to $2 billion through that date.

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