The Shanghai Composite Index edged down 0.2% to 4,154 on Tuesday, while the Shenzhen Component Index declined 0.8% to 16,237. Both benchmarks pulled back from recent highs, with the Shanghai gauge retreating from a one-month peak and the Shenzhen index easing from its highest level in over eleven years. The weakness tracked overnight declines on Wall Street, where technology shares came under pressure.
Several major US tech stocks registered sharp losses. SpaceX shares slumped following the announcement of a new bond sale, and Alphabet fell after reports that another high-profile AI researcher had left for a rival company, stoking concerns about intensifying competition in the artificial intelligence space.
Chinese technology and semiconductor names also traded lower, with notable declines in Hygon Information Technology (-1.0%), Semiconductor Manufacturing International Corporation (SMIC) (-1.4%), Eoptolink Technology (-0.9%), Victory Giant Technology (-1.5%), and Huagong Tech (-1.1%).
