# US Tech Selloff Ripples Through Global Markets

> China Galaxy Securities' Zhang Jun says A-share pricing logic intact despite US tech selloff.
- Title: US Tech Selloff Ripples Through Global Markets · BigGo Finance
- Summary: China Galaxy Securities' Zhang Jun says A-share pricing logic intact despite US tech selloff.
- Keywords: zhang jun, china galaxy securities, csi 300, nasdaq composite, s&p 500, new quality productive forces, china a-shares, finance, markets, Tech, Selloff, Ripples
- Source: BigGo Finance — https://finance.biggo.com/news/dbd004c6-35c8-4be4-a4bf-84514b3f6045
- Author: BigGo Finance
- Published: 2026-10-19T06:25:09+00:00
- Read time: 1 min
- Topics: zhang jun, china galaxy securities, csi 300, nasdaq composite, s&p 500, new quality productive forces, china a-shares, finance, markets
## US Tech Selloff
US technology stocks fell sharply last week, dragging down sentiment across global equity markets.
## Zhang Jun's Assessment
Zhang Jun, chief economist at China Galaxy Securities, said on October 19 that last week's sharp pullback in US tech stocks amounted to only a short-term sentiment shock for China A-shares.
## Nasdaq Decline
The Nasdaq Composite fell 4.48% last week (October 12-16), while the S&P 500 slipped 1.95%.
## GDP Growth
China's GDP grew 4.6% year-on-year in the first three quarters, totaling about 107.11 trillion yuan.
## New Quality Productive Forces
New quality productive forces are being deployed with growing effect in digital economy, high-end equipment and frontier innovation sectors.
## CSI 300 Valuation
The CSI 300's price-to-earnings ratio sits at about 13 times, a historical midpoint with low valuations providing a buffer.
## Investor Advice
Zhang Jun advised investors to take a rational view of overseas disruptions and focus on themes like new quality productive forces.
## Key takeaway

China Galaxy Securities' Zhang Jun says A-share pricing logic remains intact as US tech stocks fell 4.48% last week.