Major Indices Close Lower as Tech and Semiconductor Sectors Lead Declines

Deep News15:52

Major stock indices closed in negative territory on July 2nd. The Shanghai Composite Index fell by 2.03%, the Shenzhen Component Index dropped 3.85%, and the ChiNext Index declined by 5.71%. The STAR Market Composite Index was down 5.64%, while the STAR 50 Index saw a significant drop of 7.7%.

Key Sector Movements

The semiconductor and computing hardware supply chains experienced substantial pullbacks, with memory chips, silicon wafers, and CPO (co-packaged optics) leading the declines. Sectors including solar photovoltaics, lithium batteries, consumer electronics, fintech, and computing power rental also saw notable losses. In contrast, superhard materials, gold, generic drugs, and AI application themes showed strength against the broader downtrend.

Notable Performers

Stocks in the generic pharmaceuticals sector rallied collectively, with several companies, including Hainan Haiyao and Jingxin Pharmaceutical, hitting the daily upside limit.

Major Decliners

The semiconductor sector underwent a broad adjustment, with multiple stocks such as Zhongke Feice and Jiangfeng Electronics falling by more than 11%.

Market Data

The combined turnover for the Shanghai and Shenzhen markets was 3.45 trillion yuan, a decrease of 209.5 billion yuan from the previous trading session. Over 3,100 stocks across the market closed lower.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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