At 12:50 a.m. ET (04:50 UTC) Friday, Reuters reported the CSI 300 down 0.4%, the Shanghai Composite down 0.3% and Hong Kong’s Hang Seng up 1.6%, as the CSI 300 neared a 12th straight weekly loss.
Reuters said the CSI 300 had declined 0.9% for the week and 7.6% in October at that snapshot, and was 14% lower over 12 weeks. Reuters also said Hong Kong-listed internet companies bucked the broader pressure.
China Securities Index Co., Ltd. says the CSI 300 covers the 300 largest and most liquid stocks in the A-share market. The Shanghai Stock Exchange reported that the index closed Sept. 30 at 4,357.62 points, down 5.78% for the month.
The Associated Press linked regional concern to questions about AI’s outlook after Alphabet shares fell 12.6% in U.S. trading Thursday, Oct. 29. James Wang, head of China strategy at UBS Investment Bank Research, told Reuters that investor sentiment on AI was vulnerable.
