FX.co ★ China Stocks Slide on Broad Tech Selloff

The Shanghai Composite fell 1.4% to 4,054 on Thursday, ending a three-day winning streak, while the Shenzhen Component dropped 2.7% to 15,678, extending losses from the previous session. Both indices came under pressure from a broad selloff in technology shares, as investors reassessed the durability of the recent AI-led rally amid concerns that valuations had climbed too far, too fast. Sentiment was further dampened by reports that Apple is in talks to procure memory chips from Chinese manufacturers ChangXin Memory Technologies (CXMT) and Yangtze Memory Technologies Co. (YMTC), a development that could draw scrutiny from US policymakers given elevated tensions between Washington and Beijing over advanced technology. Among the weakest performers in the tech sector were Cambricon Technologies (-6.9%), SMIC (-2.7%), Hygon Information Technology (-5.5%), Zhongji Innolight (-3.7%), Eoptolink Technology (-5.2%), and Victory Giant Technology (-5.7%).