China markets end mixed as technology stocks gain on policy support

Chinese markets closed mixed on Thursday, with technology stocks leading gains after regulators pledged stronger support for innovation at the Lujiazui Forum.

The Shanghai Composite fell 0.43% to close at 4,090, while the Shenzhen Component rose 0.94% to a one-month high of 16,030.

Investor sentiment in the technology sector improved after Beijing announced measures to direct more funding toward emerging technologies amid growing competition with the US. Authorities said they would support stock market listings for startups in future industries such as quantum technology, nuclear fusion, and brain-computer interfaces.

Among the top gainers were Zhongji Innolight, up 7.19%, Eoptolink Technology, which rose 4.23%, and NAURA Technology, which gained 2.39%.

However, weakness in major banking stocks weighed on the Shanghai Composite. Industrial and Commercial Bank of China fell 2.72%, Agricultural Bank of China declined 2.45%, and China Construction Bank lost 2.07%, leading to a divergence between the two benchmark indexes.

Chinese markets will remain closed on June 19 for the Dragon Boat Festival holiday.

Powered by Capital Market - Live News