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Chinese brokerages see rebound potential for August A-share tech
The optimism comes as Korea’s Kospi and China’s CSI 300 have recently posted steep monthly declines, with Kospi down 22.0% in July and CSI 300 down 7.9%.
Leading Chinese brokerages said they expect a rebound in August for mainland traded tech shares, contrasting it with the sell off that has hit South Korea’s market.
According to a note from Citic Securities, liquidity pressure persists in some industries, but the impact on noncore AI shares has largely subsided after investors crowded into AI related sectors.
The warning backdrop includes major regional performance swings: South Korea’s Kospi fell 22.0% in July, its steepest decline since the global financial crisis, and China’s CSI 300 dropped 7.9%.
In early Asian trading on Monday, Kospi fell more than 5.0%, China’s CSI 300 slid 0.98%, and Hong Kong’s Hang Seng inched up 0.48%.
Latest closeHang Seng 25,884.43 ▲0.1%|Kospi 6,595.45 ▲17.9%