China stocks slide on tech selloff

China markets fell sharply on Monday as tech stocks came under heavy selling pressure. The Shanghai Composite dropped 1.7% to 3,959, its lowest in two months, while the Shenzhen Component slumped 3.22% to 14,821, a one-month low.

The weakness followed a retreat in Wall Streets AI-related stocks after stronger US jobs data raised concerns that interest rates may stay high for longer. Key decliners included Zhongji Innolight, Eoptolink Technology, and NAURA Technology.

On the geopolitical front, Xi Jinping arrived in North Korea for his first visit since 2019, with talks expected to cover denuclearization and regional tensions. Domestically, investors are now awaiting Chinas upcoming trade data and inflation numbers later this week, which could set the tone for near-term market direction.

 

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