Global Market: China stocks slide as tech valuations face earnings test
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓China stocks fell on Thursday as investors returned from a week-long holiday to face geopolitical tensions and high bond yields.
- ✓The CSI300 index dropped 0.4%, nearing a one-year low.
- ✓Many tech stocks also fell, as investors worry that high valuations might not match the results in the upcoming earnings season.
Story at a Glance
- Category
- MARKET
- Reported By
- The Economic Times
- Reading Speed
- 4 Minute(s)
- Market Focus
- India Economy
China stocks fell on Thursday as investors returned from a week-long holiday to renewed geopolitical tensions, higher global bond yields and concerns over stretched valuations in the technology sector, as per a Reuters report.
The largecap CSI300 index fell 0.4% in morning trading, hovering near a one-year low and extending its decline to about 15% from its June peak. The Shanghai Composite slipped 0.3%, while the tech-heavy STAR 50 index dropped nearly 4%.
S&P 500 Top Gainers
NRG Energy108.61(4.84%)
Moderna196.48(4.81%)
Micron Technology1,088(4.06%)
Vistra166.72(3.88%)
S&P 500 Top Losers
Coterra Energy32.56(-8.62%)
Caterpillar813.83(-5.75%)
Mohawk Industries119.18(-5.45%)
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The Economic Times
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