China Stocks Rise on CXMT Debut

2026-07-27 02:15 By Czyrill Jean Coloma 1 min. read

The Shanghai Composite rose 0.3% to 3,824 on Monday, while the Shenzhen Component gained 1% to 13,908, as investors brushed aside concerns that memory-chip maker CXMT’s blockbuster listing would drain market liquidity.

CXMT shares surged more than 500% from their IPO price of 8.66 yuan, making the company the most valuable stock on mainland exchanges.

The stellar debut highlighted strong investor appetite for Chinese semiconductor shares, fueled by expectations that the sector will benefit from Beijing’s drive for technological self-sufficiency.

Meanwhile, China’s industrial profits rose 18.7% year-on-year to CNY 3.95 trillion in the first half of 2026, slightly easing from the 18.8% growth recorded in January–May.

Notable gainers included Agricultural Bank of China (1.7%), CATL (3.7%), and Luxshare Precision Industry (2.2%).

In contrast, semiconductor stocks such as Hua Hong Semiconductor (-10%) and GigaDevice Semiconductor (-7.7%) slumped as investors rotated into newly listed CXMT.



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China Stocks Rise on CXMT Debut
The Shanghai Composite rose 0.3% to 3,824 on Monday, while the Shenzhen Component gained 1% to 13,908, as investors brushed aside concerns that memory-chip maker CXMT’s blockbuster listing would drain market liquidity. CXMT shares surged more than 500% from their IPO price of 8.66 yuan, making the company the most valuable stock on mainland exchanges. The stellar debut highlighted strong investor appetite for Chinese semiconductor shares, fueled by expectations that the sector will benefit from Beijing’s drive for technological self-sufficiency. Meanwhile, China’s industrial profits rose 18.7% year-on-year to CNY 3.95 trillion in the first half of 2026, slightly easing from the 18.8% growth recorded in January–May. Notable gainers included Agricultural Bank of China (1.7%), CATL (3.7%), and Luxshare Precision Industry (2.2%). In contrast, semiconductor stocks such as Hua Hong Semiconductor (-10%) and GigaDevice Semiconductor (-7.7%) slumped as investors rotated into newly listed CXMT.
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