The Shanghai Composite fell 0.9% to below 4,070, while the Shenzhen Component dropped 1.4% to 13,955 on Thursday, ending a two-day rally as a global tech rout weighed on sentiment. Investors shied away from tech shares amid concerns over lofty valuations, heavy AI spending, and potential disruption to traditional software business models. Leading decliners included Eoptolink Technology (-3.5%), BlueFocus Intelligent (-4.8%), Suzhou TFC Optical (-7.6%), Leo Group (-4.3%), and Cambricon Technologies (-2.6%). Resource-linked firms also faced renewed selling pressure as precious metals retreated, with sharp losses from Zijin Mining (-5.2%), Hunan Gold Corp (-9.9%), and CMOC Group (-6.3%). Other notable decliners include clean energy stocks such as Goldwind Science (-7.9%), Contemporary Amperex (-2%) and Sungrow Power (-4.8%).
