China’s Tech Stocks Are Falling Despite Their Own Breakthroughs
A trio of apparent ‘good news’ stories for the Chinese tech industry have had the opposite effect on investor sentiment.
A board displaying information on the Shanghai Composite Index on Nanjing West Road in Shanghai, China, April 7, 2025. Credit: Ying Tang/NurPhoto via AP Images
China's technology shares have spent the past fortnight going the wrong way. Onshore, Shanghai’s STAR 50 index — which contains many of China’s top tech stocks — has surrendered much of a rally that lifted it by some 70 percent between April and July, while the broader CSI 300 sits roughly 9 percent below its late-June peak. In Hong Kong, the Hang Seng Tech Index has been underperforming for months, all the more so since July began.
What makes the slide striking is not its size
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