Chinese technology stocks rallied on Thursday, with the Shenzhen Component Index climbing 1.17% to close at 10,535, driven by reports that the US has eased certain export restrictions on chip design software to China. Back in May, US authorities had required several semiconductor software firms to obtain licenses before exporting key tools and materials to Chinese companies. The recent reversal is part of a broader US-China trade agreement that includes provisions to resume trade in rare earths and advanced technologies. Chip-related stocks led the advance, with sharp gains from Foxconn Industrial (+10%), Luxshare Precision (+5.5%), Suzhou Dongshan (+9.3%), Eoptolink Technology (+3.7%), and Victory Giant (+5.9%). However, fresh data showed that China’s services sector growth slowed to a nine-month low in June, tempering optimism sparked by a stronger-than-expected manufacturing rebound earlier in the week and highlighting ongoing macroeconomic uncertainty.
