0901 GMT - The tech sector is propelling both the Chinese economy and the equity market, Goldman Sachs says in a research note. "Although policymakers have shown some concerns over the latest weakness in consumption growth, policy signals still point to unwavering support for tech and AI," GS says. For example, the National Bureau of Statistics touted China's technological advances in areas such as optical quantum computing during its press conference after the May data release, GS notes. Meanwhile, even though the Shanghai Composite Index has been largely flat year to date, the IT sector index has rallied by over 50%, GS adds. (tracy.qu@wsj.com)
(END) Dow Jones Newswires
June 22, 2026 05:01 ET (09:01 GMT)
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