Asian stocks tumble, bitcoin retreats as China enters bear market

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.

First reported by CoinDesk. This page is a short excerpt; the full text is theirs.