China stocks slip as tech weakness overshadows Fed rate decision

Chinese equities were lower by midday on Thursday, with technology shares weighing on the market despite the US Federal Reserve leaving interest rates unchanged. The Shanghai Composite was down 0.9% and the CSI300 had shed 1.2%, while the ChiNext Composite and STAR50 fell 3.6% and 4.2%, respectively, according to Business Recorder.

The CSI 5G communications gauge dropped 6.1% in morning trading. Robot maker Yushu Technology, also called Unitree, declined 4.3% after its first earnings report since listing showed third-quarter net profit falling even as revenue rose 70% year on year. Elsewhere, Hong Kong’s Hang Seng edged up 0.1%, but its technology shares lost 2%; across Asia, mixed reactions to AI-related earnings reversed earlier gains.