SHANGHAI, Feb 1, 2026, 09:54 GMT+8 — Market closed
- On Friday, JCET’s Class A shares closed 1.0% higher, defying a softer benchmark.
- Data released over the weekend revealed China’s factory activity has slipped back into contraction.
- Attention shifts to Monday’s market reopen and the private-sector PMI data set for release on Feb. 2.
JCET Group Co., Ltd. A-shares (600584.SS) closed Friday 1.02% higher at 49.48 yuan, slipping within a range of 47.90 to 50.14 during the session. With mainland markets closed Sunday, the stock is set to hold steady ahead of Monday’s open.
China’s official purchasing managers’ index (PMI) dropped to 49.3 in January from 50.1, slipping below the crucial 50 mark that signals contraction in factory activity. Ting Lu, Nomura’s chief China economist, warned in a note that “Beijing will have to do much more” to keep growth above 4.5% this year. The National Bureau of Statistics pointed to ongoing weak demand. A private-sector PMI report is expected on Feb. 2. Reuters
That’s significant given how quickly the stock has surged. JCET has climbed 34.53% since January 1, according to data, narrowing the margin for any negative shocks as investors consider if the rally can hold amid weaker growth indicators.
Risk appetite took a hit on Friday as the Shanghai Composite Index slipped 0.96%. Yet, chip packaging and testing stocks managed to push higher. Tongfu Microelectronics ended the day up 1.15%, while Tianshui Huatian Technology climbed 2.50%.
JCET operates at the back end of the chip supply chain, handling assembly and testing once wafers are produced. This “OSAT” stage (outsourced semiconductor assembly and test) is sensitive to shifts in electronics demand and the growing trend toward advanced packaging, which connects chips more closely to boost computing speed.
Economists cautioned that holiday schedules could be muddying the data. A Reuters poll released Friday pointed to distortions caused by the late Lunar New Year. Mizuho Securities added that factories might have shifted production forward to avoid travel and staffing issues later on.
Beyond the mainland, chip demand remains robust in certain areas. South Korea reported a 102.7% surge in semiconductor exports for January compared to the previous year. The trade ministry credited ongoing AI-server demand and rising memory prices for the sharp increase.
But the risk cuts the other way too. Should domestic demand remain weak and pricing pressure intensify, or if trade tensions disrupt orders and investment plans, those high-flying semiconductor stocks could lose their gains just as fast.
Traders eyeing JCET will watch to see if Friday’s bid holds up amid the macro jitters, and if the sector’s momentum keeps attracting cash as the week kicks off.
The next key date is Feb. 2, when S&P Global releases its private-sector manufacturing PMI. This report could be the first real gauge of whether January’s official slowdown was just a blip or something more sustained.
