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China A-shares drop as tech earnings disappoint and AI investment worries grow

Market News
03 Nov 2026, 17:15 WIB
Seeking Alpha
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Bearish
China A-shares drop as tech earnings disappoint and AI investment worries grow

China's A-shares fell sharply last week, led by a sell-off in technology stocks after disappointing earnings reports from major tech companies and rising concerns over the returns on AI-related capital expenditures. The Shanghai Composite Index dropped below 3,600, reflecting investor caution amid elevated overseas interest rates and liquidity pressures. China Asset Management Company sees this correction as opening a more attractive medium-term investment window, but near-term market stability depends on support for tech hardware stocks, easing Middle East tensions and oil prices, and improved external liquidity conditions.

Tech earnings letdown is the subject here, with Pluang's market snapshot providing context as of Nov 03, 2026 22:32 WIB: Among 150 priced Technology-sector US stocks tradable on Pluang, 84 rose and 66 fell today. Notable movers include APLD (Applied Digital Corporation) at USD 17.61 with a 1-day change of +8.54% and Pluang order activity showing 74% Sell / 26% Buy, NBIS (Nebius Group NV) at USD 151.34 up +7.04% with 39% Sell / 61% Buy, and CORZ (Core Scientific Inc) at USD 13.34 up +6.68%.

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