Feb 5, 2026, 11:39 GMT
Reuters - China and Hong Kong stocks tumbled on Thursday as the selloff in precious metals and technology stocks rippled through related sectors.
** At the midday break, the Shanghai Composite indexslipped 1% to 4,059.91 points, and the blue-chip CSI300 indexwas also down 1%.
** The renewed selloff in gold and silver triggered heavy losses across precious metals stocks. The CSI SSH Gold Equity Index tumbled 5.4% and the CSI SWS Non-ferrous Metal Index (.CSISNMIM) was down 5.6%.
** UBS SDIC Silver Futures Fund, the only silver futures fund in mainland China, is on track to hit the 10% daily limit down for the fourth consecutive day.
** Tech shares also faltered following a global selloff. The CSI AI Indexwas down 1.6% and the semiconductor index (.CSI931865) declined 1.7%.
** "Liquidity is tightening seasonally before the Spring Festival, and investors may choose to reduce positions before the holiday to avoid overseas risks, putting downward pressure on indices," analysts at Nanhua Futures wrote in a note.
** Still, there's a high probability of renewed strength after the holiday, especially strong policy support expectations provide solid underpinning, limiting downside space, they added.
** Solar-related shares also tumbled after multiple companies denied cooperation with Elon Musk. The photovoltaic industry indexslid 5.5%, and shares of Jinko Solarwere down 5.6%.
** In Hong Kong, the benchmark Hang Sengwas down 1.3%. Hong Kong's Hang Seng Materials Index (.HSCIM) fell more than 6%.
** Baidu's Hong Kong-listed sharesclimbed the most in two weeks on share buyback and dividend optimism.
** Around the region, MSCI 's Asia ex-Japan stock indexwas weaker by 1.8% while Japan's Nikkei indexwas down 1%.
Sumber : Reuters
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