Published on 10/09/2026 at 12:30 am EDT
(Reuters) - China's blue-chip stock index fell to its lowest in more than a year on Friday, as a selloff in AI-related supply chain shares deepened, while Hong Kong stocks rebounded on gains in internet companies.
** The CSI300 Index dropped 1.3% by the lunch break to its lowest level since August 2025, while the Shanghai Composite Index lost 1.2%. Hong Kong's benchmark Hang Seng was up 1.1%.
** The 5G Communication Index fell as much as 6% to a two-month low. The tech-focused

STAR

50 Index extended losses, down nearly 4% to a five-month low.
** Zhongji Innolight, a leading maker of optical transceivers used in AI data centres, slid 5.4%, while memory chip giant CXMT declined nearly 5%.
** China's stock benchmarks are near levels hit two years ago when a stimulus bonanza from Beijing lit up share prices and boosted hopes for a slow bull run, which is now limping into a three-month downtrend.
** In contrast, the Coal Index was up 1.4%, while consumer staple shares gained 0.6%, as investors rotated into more defensive and traditional sectors to curb risk.
** Tech majors in Hong Kong rebounded and were up 1.6%. Still, the index was hovering near a two-year low.
** The People's Bank of China pushed back on Thursday against foreign criticism of its exchange-rate policy, saying it has never pursued competitive depreciation, as European policymakers call for a stronger yuan to help curb China's record trade surplus and export surge.
** A stronger yuan could become a more sustained earnings headwind for Chinese corporations with overseas revenue exposure, many of which remain under-hedged, analysts at UBS said.
(Reporting by Shanghai Newsroom; Editing by Sonia Cheema)

Sumber : Reuters