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As on : 29-Jul-2026

Market Commentary - Foreign Markets
29-Jul-2026 14:48

Chinese stocks end higher as tech shares rebound despite Middle East tensions

Chinese stocks closed higher on Wednesday, with gains in technology stocks helping the market recover from recent losses. The Shanghai Composite rose 0.4%, while the Shenzhen Component climbed 1.1%.

Investor sentiment remained cautious as tensions in the Middle East increased after Iran launched ballistic missiles toward US positions. However, concerns eased after US Central Command said all the missiles were intercepted.

Technology stocks were mixed during the session. Companies such as Cambricon Technologies, Zhongji Innolight, and Eoptolink Technology posted solid gains, supporting the broader market. On the other hand, shares of SMIC, Hygon Information Technology, and Victory Giant Technology continued to decline as investors remained worried about high valuations and AI-related spending.

Meanwhile, heavyweight financial and energy stocks, including PetroChina, Bank of China, and China Life Insurance, also ended lower, limiting the market's overall gains.

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