Guotai Asset Management flagged a sharp tech-led selloff, with the Shanghai Composite down more than 1%.
The CSI All-Share Communication Equipment Index fell more than 8% intraday; the ChiNext AI Index also slid more than 8% intraday.
An unconfirmed report that China has achieved mass production of DUV lithography tools weighed on sentiment, echoing a pullback in US semiconductor trading.
A Bloomberg report on a US probe into China-linked factories in Vietnam revived tariff concerns, adding pressure on risk assets.
Guotai warned near-term conditions remain fragile despite a bullish long-term AI view, projecting 2027 global AI capex near $1.5 trillion.
KWEB•
