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7 stories mentioning SHA:000688Updated 17d ago

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Asia

Chinese Shares Open Lower Amid Tech Selloff, Rate Hike Concerns

Chinese shares opened lower on Monday amid the ongoing tech selloff and U.S. Federal Reserve Chair Kevin Warsh's hawkish speech at the Jackson Hole SymposiumThe Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.6% to 3,926.53. The Shenzhen Component Index went down 1.4% to 13,764.41.The selloff in tech shares continued to bear down on Chinese equities, with the SSE STAR 50 Index (SHA:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, opening 2.3% lower.Investors were also more cautious after Warsh's hawkish speech raised rate hike concerns.Warsh said inflation hasn't meaningfully improved and that the Fed has "work to do" unless underlying trends clearly move toward the 2% target, CNBC reported. He hinted at the need to increase interest rates if there is insufficient progress made on easing price pressures.

Shanghai Composite^SZSESHA:000688
Asia

Chinese Shares Decline Amid Tech Sector Pullback; Shannon Semiconductor Technology Up 4%

Chinese shares declined on Friday as a broad-based pullback in the technology sector dragged down market sentiment.The Shanghai Composite Index, the main gauge of Chinese stocks, declined 0.1% to 3,952.18. The Shenzhen Component Index went down 0.7% to 13,953.07.The SSE STAR 50 Index (SHA:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, fell 1.9%.The pullback came amid shifting sentiment, both domestically and internationally, with investors moving away from aggressive tech bets as markets adopt a more balanced approach, Sina.com reported.Chuangyuan Futures said the market is currently in a zero-sum game, so attention should be paid to the impact of earnings reports, according to Sina.com.Investors also stayed cautious ahead of U.S. Federal Reserve Chair Kevin Warsh's Jackson Hole speech for clues on the U.S. rate outlook, while renewed U.S.-China tensions over Iran sanctions weighed on sentiment.On the regulatory front, China ordered automakers to promptly file recall plans with the State Administration for Market Regulation after defects are found, and to strengthen testing, self‑regulation and standards.In company news, Shannon Semiconductor Technology (SHE:300475) disclosed its acquisition of a 3% stake in Haiwei Zhisuan Jiangsu Technology for 150,000 yuan and will assume 2.9 million yuan in unpaid capital contribution obligations. Shares of the washing machine gear clutches producer rose 4% Friday.

Shanghai Composite^SZSESHA:000688SHE:300475
Asia

Tech Rally, Expanding Current Account Surplus Lift China Shares Higher; China Merchants Energy Shipping Jumps 5%

Chinese shares rose on Monday, supported by a rally in technology shares and amid expanding current account surplus and industrial production growth.The Shanghai Composite Index, the main gauge of Chinese stocks, rose 1.4% to 3,982.65. The Shenzhen Component Index went up 2.4% to 14,704.27.Tech stocks led the advance, with the SSE STAR 50 Index (SHA:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, jumping 4.1%.Also boosting investor sentiment was China's current account surplus widening to $195.1 billion in the second quarter, higher than $184.3 billion in Q1.The country likewise saw a 4.5% year-over-year growth in industrial production in July. However, the reading was lower than the 5.3% expansion recorded in the previous month and missed the consensus forecast of 5% growth tracked by Investing.com.In company news, China Merchants Energy Shipping (SHA:601872) signed long-term charter agreements for five 84,500-deadweight-tonnage newbuild multipurpose vessels, comprising three from CMB Financial Leasing and two from China Merchants Leasing. Shares of the fleet operator closed 5% higher Monday.

Shanghai Composite^SZSESHA:000688SHA:601872
Asia

China Shares Rise as Tech Gains Offset Oil Fears; Yuanjie Semiconductor Technology Jumps 6%

Chinese shares rose Wednesday, with gains in the technology sector offsetting investor caution over high oil prices.The Shanghai Composite Index, the main gauge of Chinese stocks, closed 0.3% higher to 3,946.68. The Shenzhen Component Index rose 1.1% to 14,414.43.Tech stocks led the advance, with the SSE STAR 50 Index (SHA:000688), the benchmark for the 50 largest science and technology companies on the Shanghai bourse, rising 1.6%.UBS analysts said recent weakness in tech stocks appears priced in, with sentiment starting to stabilize, Reuters reported.Sentiment was weighed by high oil prices after attacks on commercial vessels in the Middle East dented hopes for a swift reopening of the Strait of Hormuz. Brent crude rose more than 2% Wednesday night to nearly $90 a barrel, Al Jazeera reported.In company news, Yuanjie Semiconductor Technology (SHA:688498) is raising its 2026 credit facility to 6 billion yuan from 2 billion yuan. Shares of the optical chip maker jumped 6% Wednesday.

Shanghai Composite^SZSESHA:000688SHA:688498
Asia

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
Asia

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
Asia

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

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