China Stocks Open Lower; Shanghai Composite Breaks 4,000 Points

(Central News Agency, reporter Zhang Shuling, Beijing, 8th) After a sharp decline in U.S. stocks, Chinese stock markets opened lower today. All four major indices opened in the red, with the Shanghai Composite Index (SSE) falling below the 4,000-point mark. The Shanghai and Shenzhen markets saw declines of approximately 2% and 3%, respectively. The STAR Market, which is dominated by technology companies, fell by 4.5%.

The Shanghai Stock Exchange Composite Index (Shanghai Composite) opened at 3,938.71 points this morning, down 89.03 points or 2.2%. The index then quickly rebounded, with the decline hovering around 1%.

The Shenzhen Component Index opened at 14,835.37 points, down 479.33 points or 3.13%. The decline later narrowed to within 2%.

The ChiNext Index opened at 3,820.23 points, down 137.71 points or 3.48%. The STAR Composite Index opened at 1,934.12 points, down 91.26 points or 4.5%. Half an hour after the open, the declines for both indices had narrowed to within 2%.

U.S. stocks fell sharply last Friday, with the Philadelphia Semiconductor Index (SOX) plunging 10.26%. After the recent surge in tech stocks driven by the artificial intelligence (AI) investment boom, selling pressure emerged. Additionally, market concerns that the U.S. Federal Reserve (Fed) might raise interest rates are expected to impact funds flowing into AI. (Editor: Chen Kaiyu) 1150608