China stocks extend losses as Wall Street tech selloff dents sentiment

By Reuters News

- China stocks extended losses on Friday, tracking broad weakness across global markets, as a selloff in tech shares on Wall Street weighed on investor sentiment.

** The benchmark Shanghai composite index .SSEC fell 0.9% in early trading, while the blue-chip CSI300 index .CSI300 lost 1.1%.

** Both key indexes added to losses from the previous session, when the CSI300 posted its lowest close since July 2025 and the Shanghai benchmark ended at its weakest level in more than a year.

** The CSI300 index is now down more than 20% from its most recent closing peak on June 22, meeting some definitions for confirmation of a "bear market". By the most widely accepted definition of the term, it has been in one ever since a 2007 closing-level high.

** "Three converging forces: a deepening selloff in AI-related technology stocks, escalating Middle East tensions following deadly attacks on Saudi Aramco infrastructure, and intensifying stress in French sovereign debt markets, triggered a sharp risk-off rotation across global markets overnight," analysts at UOB said in a note.

** Meanwhile, in Hong Kong, the benchmark Hang Seng index .HSI was little changed in early trading.

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