China's ChiNext index opened 2.48% lower on Wednesday, with the Shanghai Composite falling 1.09%, as semiconductor and computing hardware stocks extended their declines across more than 4,200 declining stocks. Hong Kong's Hang Seng Tech Index bucked the trend, opening 0.15% higher, as Alibaba and Bilibili gained while SMIC and Lenovo declined.
China's ChiNext index opened 2.48% lower on Wednesday, extending a selloff in semiconductor and computing hardware stocks.
More than 4,200 stocks declined in the broader market, with losses concentrated in memory, PCB, advanced packaging and CPO sectors, according to exchange data. Industrial gas, GPU, fiber optics and lithography machine stocks also fell.
The Shanghai Composite opened 1.09% lower, tracking the tech-heavy ChiNext board. The decline deepened a recent downturn in China's semiconductor supply chain, with storage, PCB and advanced packaging names leading losses. The selloff across more than 4,200 declining stocks represented a broad-based retreat that swept through most sectors in early trading.
The divergence between mainland and Hong Kong markets suggests capital rotation rather than a systemic shock, though continued weakness in semiconductors could pressure global chip supply chains. Hong Kong's Hang Seng Index opened 0.58% higher, while the Hang Seng Tech Index added 0.15%, supported by gains in Alibaba Group and Bilibili.
In Hong Kong, individual tech stocks showed mixed performance. Alibaba Group and Bilibili rose in early trading, while SMIC and Lenovo Group declined. Xiaopeng Motors and Sunny Optical Technology also gained. The Hang Seng Tech Index's slight advance contrasted with the broad-based selloff on the mainland, where more than 4,200 stocks declined across all sectors. The Hang Seng Index's opening gain of 0.58% was led by consumer and tech names, partially offset by weakness in semiconductor-related stocks listed in Hong Kong.
This article is for informational purposes only and does not constitute investment advice.
