Chinese stock markets have recorded a 10-week consecutive decline, marking the longest losing streak in the history of the country's primary benchmarks. Data from Barchart confirms this trend, which persists despite official reports of economic growth. The CSI 300 Index fell by approximately 3.4% last week, leaving it about 17% below its peak in June.
The downturn is particularly pronounced in the technology and semiconductor sectors. The STAR 50 Index has declined by nearly 40% over the past six months, while the ChiNext Index has dropped by roughly 36%. Shares of chipmakers MetaX and Moore Threads have each lost approximately half of their market value as investors rotate out of the sector.
State-backed funds have increased their activity to stabilize prices, with inflows into exchange-traded funds reaching their highest level since July. This intervention follows a period where valuation concerns and a global slowdown in AI-related investments placed significant pressure on Chinese equity markets.
Economic data from the National Bureau of Statistics indicates that GDP grew by 4.5% year-on-year in the third quarter, exceeding the consensus estimate of 4.4%. Industrial output rose by 5.5% in September. Despite these figures, investors remain cautious due to ongoing challenges in the property sector and weak domestic consumption.
