18.08.202602:13:09UTC+00Shanghai Stocks Hit Over 1-Month High

The Shanghai Composite edged up 0.2% to a more than one-month high near 3,991 on Tuesday, while the Shenzhen Component slipped 0.6% to 14,613, as markets turned volatile following recent gains in technology and semiconductor names. Sentiment in the sector had been supported by robust corporate earnings and Beijing’s ongoing drive to build a self-reliant semiconductor industry, with Huawei and CXMT reporting notable progress in chip development.

However, caution persisted after July data pointed to a weak start to the second half of the year, with fixed-asset investment, industrial production, and retail sales all missing forecasts. Technology, semiconductor, and AI-related stocks retreated, including Hygon Information Technology (-1.3%), SMIC (-0.4%), GigaDevice Semiconductor (-0.4%), and Eoptolink Technology (-1%). In contrast, energy giants PetroChina (1.2%) and CNOOC (1.5%) outperformed, supported by higher oil prices amid receding expectations for a Middle East peace deal.