03.07.202602:00:39UTC+00China Stocks Head for Mixed Weekly Finish

The Shanghai Composite inched up 0.1% to around 4,031 on Friday, while the Shenzhen Component rose 0.6% to 15,586. The two benchmarks were on track for a mixed weekly performance as technology stocks continued to weigh on overall sentiment.

Investors remain confident in the long-term growth prospects of artificial intelligence, but mounting concerns that valuations have run ahead of fundamentals—amid rising investment costs and intensifying industry competition—kept the sector under sustained pressure.

Chinese technology shares were among the session’s weakest performers, led by NAURA Technology (-6.2%), Huagong Tech (-1.8%), and Victory Giant Technology (-3.5%), along with chipmakers GigaDevice Semiconductor (-3.7%) and SMIC (-0.4%).

By contrast, energy names posted solid gains, including PetroChina (1.5%) and CNOOC (1.2%), while notable advances were also seen in BYD (2.9%), Midea Group (3.3%), and Luxshare Precision Industry (4.6%).