China's ChiNext Plunges 6%, Shanghai Index Dips 2.4% as Tech Rout Deepens

China's equity markets suffered a brutal selloff on Monday, with the tech-heavy ChiNext index crashing 6% to lead regional losses. The Shanghai Composite dropped 2.4%, the Shenzhen Component fell 4.8%, and the STAR 50 index plunged nearly 7%. Sectors including computing power hardware, semiconductor chips, robotics, and innovative drugs were among the worst hit. More than 5,100 stocks declined across the entire market, reflecting broad-based weakness. Analysts attribute the downturn to profit-taking after a recent rally, coupled with renewed concerns about elevated valuations in high-growth industries. The sharp declines underscore investor anxiety over the sustainability of the tech-led bull run, as policy support and earnings momentum come under scrutiny.