From their peak values this year, the three most popular stock indices in China — Shanghai Composite, Shenzhen Component, and CSI 300 — have shed 12%, 28%, and 17%, respectively.
AI leads decline in Chinese stock indices
Exceeding all of those figures, an index of exclusively AI stocks has declined 35% since its peak this year.
Semiconductors, which experienced the biggest AI-fueled boom in the first half of the year, have busted the worst in the second half. China’s CSI All Share Semiconductors index has drawn down an incredible 45%.
Bloomberg correctly reported that no other major tech index in the world has fared worse than Star 50 since July 1.
South Korea’s stock exchange has paused trading 38 times this year
Foreign investors withdrew over $13 billion from mainland stocks via Hong Kong in the third quarter. It was the largest outflow in the past 12 months and reversed more than half of the inflows those equities enjoyed in the spring quarter.
The CSI 300 index is currently trading 30% below its February 2021 high.