SHA:000688

3 stories mentioning SHA:000688Updated 3d ago

Every FINWIRES story that references SHA:000688, newest first.

China Shares Slide at Open on Global Semiconductor Selloff

Chinese equities opened lower on Tuesday, dragged down by a broader global selloff in semiconductor and technology stocks.The Shanghai Composite Index, the main gauge of Chinese stocks, opened 0.9% lower to 3,823.13. The tech-heavy Shenzhen Component Index dropped 2.3% to start the session at 13,830.35.Chip stocks fell sharply worldwide after renewed concerns over the sustainability of massive spending on artificial intelligence, Reuters reported.The selloff spread across Asia, with the SSE STAR 50 Index (SHA:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, dropping 2.9% at market open.

Shanghai Composite^SZSESHA:000688

Asia37d ago

Chinese Shares Rise on Tech Rally; Genori Technology Surges in Debut

Chinese shares erased earlier losses to end in green on Wednesday, driven by a rally in technology stocks and positive policy signals.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 0.1% to 4,110.81. The Shenzhen Component Index jumped 1.2% to 16,051.32.The SSE STAR 50 Index (SSE:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, closed 4% higher.Positive global cues included news that South Korea is in discussions with Samsung Electronics (KRX:005930) and SK Hynix (KRX:000660) over the next phase of large-scale semiconductor investments.South Korean presidential policy adviser Kim Yong-beom said AI-driven demand growth may require the two chipmakers to boost planned chip facility construction by more than 10 years to 2034-2035, while the government looks for space to build a second semiconductor cluster.Also boosting sentiment was China's action plan to boost and stabilize foreign investments.The plan, signed by the commerce and finance ministries, as well as the National Development and Reform Commission, highlights market access expansion, facilitating and supporting foreign investment, and beefing up investment promotion, among others.In company news, shares of Chongqing Genori Technology (SHA:688797) surged 1,213% versus their initial public offering price of 44.56 yuan on their first day of trading on the Shanghai bourse.

Shanghai Composite^SZSESHA:000688SHA:688797

Asia53d ago

China Shares Fall Amid Tech Selloff; GEM Down 5%

Chinese shares decline amid a selloff in technology stock following the recent release of strong U.S. jobs data.The Shanghai Composite Index, the main gauge of Chinese stocks, fell 1.7% to 3,959.34. The Shenzhen Component Index plunged 3.2% to 14,821.19.Fears of a rate hike by the U.S. Federal Reserve after strong U.S. jobs data triggered a selloff in technology stocks. According to CME FedWatch, markets are pricing in a 76% chance as of June 8 that the Fed will raise rates in December, up from 53.6% chance a week ago.The SSE Star 50 Index (SHA:000688) and the SZSE Technology Index (SHE:399339), which track the performance of the 50 largest and most liquid technology and innovation-focused companies listed on their respective bourses, were both down about 4%."Such a sharp decline is quite unexpected ... but it's more likely a short-term adjustment after such longtime discussions over tech bubbles," City News Service cited Deng Yichao, an analyst with Chinalin Securities, as saying.In company news, GEM (SHE:002340) signed an agreement with Ningbo Eastern Institute of Technology to jointly establish a solid-state battery cathode material joint laboratory. Shares of the waste resource comprehensive utilization company closed 5% lower Monday.

Shanghai Composite^SZSESHA:000688SHE:002340SHE:399339

Track with the FINWIRES app suite

FolioX

Track SHA:000688 in your portfolio

WheelAI

Analyze SHA:000688 options with the wheel strategy

StockInsider

See market sentiment on SHA:000688