China Stocks Drop on Tech Selloff

2025-11-21 02:50 By Jam Kaimo Samonte 1 min. read

The Shanghai Composite fell 2.45% to close at 3,835, while the Shenzhen Component dropped 3.41% to 12,538 on Friday, pushing mainland stocks to two-month lows as Chinese technology and AI-linked shares joined a global selloff.

Selling pressure spilled over from Wall Street, where concerns about an AI bubble persisted and stronger-than-anticipated US employment growth reinforced expectations that the Federal Reserve will hold off on cutting interest rates in December.

Key decliners in the tech sector included Zhongji Innolight (-5.7%), Eoptolink Technology (-8.5%), Shannon Semiconductor (-13.4%), Foxconn Industrial (-8%) and Victory Giant (-7.7%).

New energy names also extended losses, with Sungrow Power, Contemporary Amperex and Ganfeng Lithium falling between 2.5% and 10%.

The Shanghai and Shenzhen indexes declined 3.9% and 5.13%, respectively, for the week.



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