The Shangai Composite Index Closes 1.50% Lower

The Shangai Composite Index dropped 55 points or 1.50 percent on Friday to close at 3597 points. Losses were led by SAIC Motor (-6.27%), Avic Aviation Engine (-4.45%) and Yonyou Soft (-4.30%).

The Shanghai Composite fell 1.44% to close at 3,599 on Friday, while the Shenzhen Component lost 2.73% to 10,834, with both benchmarks hitting their lowest levels in more than a year as the technology selloff deepened across Asian markets. Sentiment toward the sector remained subdued following Intel Corp.’s weak outlook, Amazon.com Inc.’s post-earnings slump and Alphabet Inc.’s disappointing sales and elevated spending, fueling concerns over semiconductor demand and returns on massive AI investments. Domestically, Zhongji Innolight plunged 4.99% despite a 173.7% annual surge in Q3 net profit, while Eoptolink Technology slumped 14.19% even as earnings climbed 61.15%. Cambricon Technologies (-3.61%), SMIC (-4.17%) and Hygon Information Technology (-8.44%) also lagged. Investors await upcoming PMI releases in the coming days for fresh insights into China's economic health. Over the month, the Shanghai Composite dropped 6.33%, while the Shenzhen Component plunged 15.94%.

The Shangai Composite Index decreased 36 points or 0.98 percent on Thursday to close at 3645 points. The decline was led by China Fortune (-3.48%), Yonyou Soft (-3.32%) and BAIC BluePark (-3.09%). On the upside, the strongest performers were Huayu Automotive (3.89%), China Shenhua Engy (3.79%) and Bank Of Nanjing (3.70%).