The Shanghai Composite Index declined 0.5% to 3,863 on Tuesday, while the Shenzhen Component dropped 1.2% to 13,622. Both benchmarks closed at their lowest levels in nearly a month, dragged down by a broad selloff in technology stocks that pressured sentiment across Asian markets.
Investors continued to pare back exposure to the tech sector ahead of a pivotal week for corporate earnings, with Nvidia’s results on Wednesday seen as a key test of confidence in the artificial intelligence trade.
In China, Eoptolink Technology fell 1.7% despite posting a 100.34% surge in annual revenue and a 90.98% increase in net profit. Other notable decliners included SMIC (-1.7%), Hygon Information Technology (-1.7%), and Zhongji Innolight (-2.3%).
At the same time, investors shifted part of their focus to the National People’s Congress Standing Committee meeting, scheduled from August 25 to 28, looking for potential policy signals to support growth amid signs of slowing economic momentum.
