On October 26, the Chinese stock market showed weakness, with technology stocks dragging down the indices. The Shanghai Composite Index closed up 0.19% at 3,697.52, while the Shenzhen Component Index fell 1.19% to 11,534.38, and the ChiNext Index dropped 1.71% to 2,638.23.
On the same day, the fifth plenary session of the 20th Central Committee of the Communist Party of China opened in Beijing, running for four days until October 29. However, the opening of the plenary session did not significantly impact the stock market.
In the Chinese stock market, sectors related to AI, including computing hardware, optical communication components, optical modules, and semiconductors, all experienced declines. Trading volume also decreased compared to the previous day, indicating weak buying interest. Concerns that major central banks worldwide might signal future tightening, even if they hold rates steady for now, have lowered investors' risk appetite.
According to Morgan Stanley, the Chinese stock market is under pressure due to concerns over trust-related tax issues, intense competition in the e-commerce sector, weakening macroeconomic conditions, and increased global market volatility. Morgan Stanley noted, "How actively state-owned funds engage in buying is also an important point to watch," adding that despite an increase in ETF trading by state-owned funds, the market's downward trend has continued.
Among notable stocks, those related to robotics performed well. Companies like Saifutian and Zhengyu Industrial hit their upper limits, while Unitree Technology surged 7.69%. The commercialization of China's humanoid robot industry is accelerating. According to the Ministry of Industry and Information Technology, production of humanoid robots in China exceeded 40,000 units in the first half of 2026, with annual production expected to surpass 100,000 units. Humanoid robots are increasingly being deployed in factories, theme parks, and large supermarkets. Tesla has begun mass production of its Optimus robot at its Fremont factory and is working to expand annual production capacity to 1 million units.
Food and beverage stocks also saw gains, with companies like Guifaxiang, Qingdao Foods, and Liangpinpuzi reaching their upper limits. A representative from the Ministry of Commerce reported that the consumer market in China has been steadily expanding, with ongoing improvements in consumer structure through the third quarter of this year.
Meanwhile, the People's Bank of China set the yuan's central parity rate against the dollar at 6.7162 yuan, a decrease of 0.0018 yuan from the previous trading day, reflecting a 0.03% increase in the yuan's value.
* This article has been translated by AI.
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