China’s Stock Market Enters Bear Territory Amid AI and Economic Concerns

China: The country’s benchmark CSI 300 Index fell as much as 1.6% on Thursday, October 22, taking its losses from the June peak to around 20% and entering bear-market territory. Hong Kong-listed Chinese stocks also declined, reflecting growing investor concerns over technology valuations and the economic outlook.

The sell-off has been driven by fading enthusiasm for artificial intelligence stocks, weak consumer spending and uncertainty over further government stimulus. Slower-than-expected profit growth at battery maker Contemporary Amperex Technology has added to market worries, as investors seek stronger corporate earnings and signs of a sustained economic recovery.