Chinese stocks fell on Wednesday, with the Shanghai Composite down 1% to 3,953 and the Shenzhen Component off 2.2% to 14,301, while Hong Kong-listed chip stocks also declined sharply. Semiconductor and AI-related shares led losses as a global chip selloff tied to rising government bond yields, persistent inflation, elevated fiscal spending, heavy debt issuance and energy supply concerns outweighed support from strong corporate earnings and Beijing's semiconductor push. Weak July Chinese data, including fixed-asset investment, industrial production and retail sales missing expectations, added to investor caution. In Hong Kong trading, Iluvatar CoreX Technologies fell 11%, Hua Hong Semiconductor dropped more than 9%, Chip Intelligence Holdings lost more than 7%, and GigaDevice fell 6.8%; on the mainland, GigaDevice had reported H1 2026 revenue of RMB 11.57 billion, up 178.7% year over year, and net profit attributable to shareholders of RMB 6.86 billion, up 1,091.5%, but its shares still fell 1.6% on Wednesday.