Chinese stocks were dragged into a bear market, with $2.4 trillion lost since a peak in May, as a protracted slump in consumption and mounting doubts over the profitability of artificial intelligence companies turn them into one of the world’s worst performers.
The CSI 300 Index closed 1.8% lower on Thursday, bringing its total losses from a high in June to 20%. Gauges for major Chinese companies and tech firms also plunged in Hong Kong, with a monthslong selloff showing few signs of abating.
