The Shanghai Composite fell 1.6% to around 3870, while the Shenzhen Component dropped 2.8% to 12,620 on Friday, pushing mainland stocks to multi-week lows as Chinese technology and AI-linked shares joined a global selloff. Selling pressure spilled over from Wall Street, where concerns about an AI bubble persisted and stronger-than-anticipated US employment growth reinforced expectations that the Federal Reserve will hold off on cutting interest rates in December. Key decliners in the tech sector included Zhongji Innolight (-3.3%), Eoptolink Technology (-5.1%), Shannon Semiconductor (-12.2%), Foxconn Industrial (-6.3%) and Victory Giant (-5%). New energy names also extended losses, with Sungrow Power, Contemporary Amperex and Ganfeng Lithium falling between 1.2% and 9.7%.
