China Stocks Track Wall Street Declines

2026-06-23 01:57 By Czyrill Jean Coloma 1 min. read

The Shanghai Composite slipped 0.2% to 4,154 on Tuesday, while the Shenzhen Component fell 0.8% to 16,237, with both benchmarks retreating from a one-month high and an over eleven-year peak, respectively, tracking overnight losses on Wall Street amid pressure on tech stocks.

Major US tech stocks posted steep losses, with SpaceX sliding on a bond sale announcement and Alphabet falling amid reports of another AI researcher leaving for a rival, underscoring intensifying competition in the sector.

Chinese tech and semiconductor stocks also traded lower, including Hygon Information Technology (-1.0%), SMIC (-1.4%), Eoptolink Technology (-0.9%), Victory Giant Technology (-1.5%), and Huagong Tech (-1.1%).

On the economic front, China’s cumulative fiscal deficit narrowed for the first time in over two years, with the combined shortfall across its two main government budgets falling to 3.16 trillion yuan in January to May, despite weak domestic demand and sluggish economic growth.



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