China markets fell sharply on Monday as tech stocks came under heavy selling pressure. The Shanghai Composite dropped 1.7% to 3,959, its lowest in two months, while the Shenzhen Component slumped 3.22% to 14,821, a one‑month low.
The weakness followed a retreat in Wall Street's AI‑related stocks after stronger US jobs data raised concerns that interest rates may stay high for longer. Key decliners included Zhongji Innolight, Eoptolink Technology, and NAURA Technology.
On the geopolitical front, Xi Jinping arrived in North Korea for his first visit since 2019, with talks expected to cover denuclearization and regional tensions. Domestically, investors are now awaiting China's upcoming trade data and inflation numbers later this week, which could set the tone for near‑term market direction.
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