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Tech Selloff, Rising Yields Weigh Down China Shares at Open

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Chinese shares opened lower on Wednesday, tracking losses on Wall Street amid a selloff in technology stocks and rising U.S. Treasury yields.

The Shanghai Composite Index, the main gauge of Chinese stocks, declined 1.0% to 3,952.12. The Shenzhen Component Index fell 2.1% to 14,316.98.

Most global markets are balancing the contradictions between AI infrastructure investment, non-AI real economy and ever-rising interest rates, Northeast Securities said.

The 10-year U.S. Treasury yield climbed to 4.72%, its highest level in recent months, adding to anxiety across global equity markets.

"These high overseas interest rates stem from strong investment demand in areas like AI and rising oil prices. However, persistently high interest rates will ultimately suppress the economy and negatively impact China's exports," Northeast Securities said.

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