Chen Guo, deputy director and chief strategist at East Money Research Institute, said a downturn in the Korean memory-chip sector would not signal the end of the global tech bull and may simply reflect intra-tech rebalancing. He said the move would not imply the end of an A-share re-rating; RMB assets still have room to be re-rated, with particularly large upside for high-quality carbon-based assets in China’s A-share market.

China A-shares opened higher then reversed; Shenzhen Composite Index down 1%, ChiNext Index down 0.62%, Shanghai Composite Index down 0.12%. Humanoid-robot and industrial machine-tool sectors led losses.

Consumer 3D-printing firm Snapmaker has completed a new 1.0 bln yuan financing round led by Cathay Capital. TAL Education’s strategic investment arm co-invested, and existing shareholders—including Meituan’s strategic investment arm, Meituan Longzhu, Hillhouse Ventures and Shunwei Capital—substantially oversubscribed. Gaohu Capital acted as sole financial adviser. The transaction is among the largest single rounds in the consumer hardware sector since 2025 and the largest primary-market financing in consumer-grade 3D printing in the past two years.