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As on : 19-Aug-2026
Market Commentary - Foreign Markets
19-Aug-2026     17:38

Chinese stocks drop as chipmakers selloff continues

Chinese stocks faced significant selling pressure on Wednesday, with the Shanghai Composite down 2.40% to 3,894.4 and the Shenzhen Component falling 5.01% to 13,890.2. Semiconductor stocks led the decline due to rising government bond yields, persistent inflation, high fiscal spending, and heavy debt issuance, raising concerns about borrowing costs. Geopolitical tensions and fears of energy supply disruptions heightened worries about sustained inflation.

The decline in chip stocks worsened after GigaDevice reported its first-half 2026 results, which showed a revenue increase of 178.7% to RMB 11.57 billion and a net profit surge of 1,091.5% to RMB 6.86 billion, though slightly below expectations. Major semiconductor stocks like SMIC, Cambricon Technologies, and Hygon Information Technology saw sharp declines, with losses ranging from 5.16% to 12%.

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