China stocks sink as Hong Kong rebounds, but chart warns of downside
Mainland shares extended a historic losing streak as AI spending worries hit technology stocks. Hong Kong rose on Friday, though the Hang Seng remains under pressure on the chart, with support near 22,547.
China Stocks Fall as Hong Kong Rebounds: Hang Seng Levels to Watch
China's mainland market and Hong Kong moved in opposite directions on Friday, highlighting how the global technology selloff is affecting regional shares unevenly. The CSI 300 fell 1.4% to near a one-year low, while the Shanghai Composite lost 1.44% to close at 3,599. Hong Kong's Hang Seng Index rose 1.5% to 23,294, ending the week 0.9% higher. The Hang Seng Tech Index also gained 0.3%, but remained near its lowest level in two years.
The mainland decline capped a punishing stretch for investors. The CSI 300 lost 8.5% in October, its steepest monthly fall in more than a decade, and was down 15% over 12 weeks-an unprecedented run of weekly losses. These closing figures are weaker than the earlier lunch-break snapshot, which showed the index down 0.4% on the day and 7.6% for the month. The difference reflects the selloff continuing into the close.
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