Asian stocks tumble, bitcoin retreats as China enters bear market
Source: CoinDesk ·
From the source
Technology shares led regional losses as mixed U.S. earnings unsettled investors and Brent crude climbed above $112 a barrel. Asian stocks tumbled on Thursday, with Chinese equities entering a bear market as technology shares sank and rising oil prices compounded investor concerns. The CSI 300, which tracks the 300 largest stocks traded in Shenzhen and Shanghai, slid 2%, taking the decline from June’s peak to 20%. Other regional benchmarks followed suit. Japan’s Nikkei 225 fell around 3%, South Korea’s Kospi dropped 3.5%, Taiwan’s benchmark lost 2% and Hong Kong’s Hang Seng declined 3%. Chinese technology shares traded in Hong Kong faced their worst session since President Donald Trump’s April 2025 “Liberation Day” tariff announcement, according to Bloomberg’s David Ingles . According to Ingles, the technology benchmark has fallen more than 40% from its peak, almost erasing gains following Beijing’s Sept. 24 stimulus package, with forward valuations compressed to roughly 13 times…