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المشهد العربي
Chinese stocks remain stable amid tech issues
Chinese stocks ended the week near their lowest levels in over a year, affected by a strong wave of sell-offs, particularly in AI company shares. The "Star 50" index declined by 4% before trimming its losses and closing close to stability. Meanwhile, shares of major technology companies in Hong Kong rose by 3.1%, despite remaining near a two-year low. The Hong Kong index showed a daily gain of 1.79% and experienced a weekly growth of 1%. Additionally, the People's Bank of China reiterated that it does not intentionally devalue the yuan, even as the U.S. dollar declined against the yuan by 15% to 6.6930 yuan. Data indicate that the "Shanghai Composite" index experienced a modest increase of 0.05%, while the "CSI 300" index saw a weekly decline of 0.9%.
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