Shanghai, Feb 21, 2026, 13:58 CST — The market finished trading for the day.
- Shanghai and Shenzhen A-shares are closed for the Spring Festival. Trading resumes Feb. 24.
- Shanghai’s Composite Index finished its last session before the holiday at 4,082.07, down 1.26%.
- Investors are back, facing a market still reacting to U.S. tariff headlines and a new slate of AI earnings reports.
Mainland China’s A-share market is shut for the Spring Festival and won’t reopen until Tuesday, as trading at the Shanghai Stock Exchange stays paused through Monday. 1
With the market reopening, local investors are stepping back into a global scene that’s already shifted. On Friday, U.S. equities finished up after the Supreme Court overturned President Donald Trump’s use of emergency powers to impose broad tariffs. Trump responded, signaling he’ll target a short-term 10% tariff using a different legal route. 2
Tech is the other major driver here. Nvidia’s earnings, due next week, are now in focus—Reuters points to them as a crucial checkpoint for the AI boom’s payoff, a question that’s already been shaking up trading. 3
Shanghai’s main board wrapped up trading on Feb. 13 with the Composite slipping 1.26% to finish at 4,082.07. The Shenzhen Component Index also lost ground, dropping 1.28% to 14,100.19, according to Xinhua. 4
The CSI 300 index, tracking heavyweight stocks on Shanghai and Shenzhen exchanges, slipped 1.25% to wrap up the session at 4,660.41, Investing.com data showed. 5
Plenty happening on the domestic front. According to Xinhua, a nationwide push is underway through early March, aiming to hand out over 360 million yuan (about $51.6 million) in consumption vouchers and subsidies linked to cultural and tourism-related purchases. 6
Liquidity’s getting squeezed beyond stocks, as the holiday keeps key Asian markets offline. Reuters reported Friday that China, Hong Kong, and Singapore remained shut for Lunar New Year, pushing traders toward offshore prices in both currencies and commodities. 7
China’s exporters and manufacturers are still facing a tangle on U.S. tariffs. “The decision stopped short of clarifying eligibility for tariff refunds, leaving a key source of uncertainty intact,” Eric Merlis, co-head of global markets at Citizens, said. 8
On the AI front, expectations couldn’t be more elevated. “It’s hard for Nvidia to surprise when everyone expects it to surprise,” said Marta Norton, chief investment strategist at Empower. Investors are also looking ahead to Trump’s State of the Union speech on Tuesday. 9
The first session after the break has a way of catching traders off guard. Trade policy could come roaring back, armed with new legal mechanisms, or AI leaders might stumble, failing to back up recent spending. Instead of a relief rally, the catch-up could quickly flip into a bout of selling.
Shanghai comes back online Feb. 24, with traders zeroing in on turnover, which sectors jump out of the gate, and Stock Connect flows between Shanghai and Hong Kong as services pick up after the holiday. 10
