hina’s stocks steadied on Friday after steep losses in the previous session, but remained on course for their biggest weekly falls in five months as market participants took profits following a two-month rally.
The Shanghai Composite Index lost 0.1 percent in early trade. The benchmark has now declined 2.5 percent this week, on track for the sharpest weekly drop since early April.
China’s blue-chip CSI300 Index swung between gains and losses in the opening hour, and by mid-morning was down nearly 3 percent for the week, set for the biggest decline since December.
Tech shares led the pullback this week, with the AI sector down 9.2 percent and the semiconductor sector dropping 8.9 percent. Chip designer Cambricon sank more than 18 percent, putting it on track for…
