ab 17 July 2026 Global Research China Tech Insight Sentiment and liquidity concerns vs. resilient fundamentals – which will prevail? Our initial takeaways on China's semi stock sell-off in July After a strong rally in 1H26 (A-share Semi Index +84% vs. HS300 Index +7%), the China semiconductor sector has seen meaningful profit-taking since July (A-share Semi Index -21% vs. HS300 Index -6% in the same period). We believe the profit-taking among China tech stocks and portfolio rebalancing were likely driven by ...