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The Shanghai Composite slipped 1% to 3,953 on Wednesday, while the Shenzhen Component lost 2.2% to 14,301, as a broad selloff in semiconductor stocks weighed heavily on both benchmarks. Chipmakers came under pressure worldwide as government bond yields surged amid persistent inflation, elevated fiscal spending, and heavy debt issuance. At the same time, geopolitical tensions raised concerns about energy supply disruptions, adding to fears that inflation and financing costs may stay elevated for an extended period. The decline came despite strong earnings from GigaDevice, which reported H1 2026 revenue of RMB 11.57 billion, up 178.7% from a year earlier, while net profit attributable to shareholders surged 1,091.5% to RMB 6.86 billion. Investors continued to rotate out of the sector, with SMIC (-1.3%), Hygon Information Technology (-3%), GigaDevice (-1.6%), Hua Hong Semiconductor (-2%), Zhongji Innolight (-1.3%), and Eoptolink Technology (-3.1%) among the session’s biggest decliners.
