Asian stocks tumble, bitcoin retreats as China enters bear market — SkimNews
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- China's CSI 300 slid 2% on Thursday, entering bear market territory with a 20% decline from its June peak, as technology shares led regional losses.
- Regional benchmarks tumbled in tandem — 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 tech shares in Hong Kong suffered their worst session since Trump's April 2025 'Liberation Day' tariff announcement, with the tech benchmark down more than 40% from its peak and forward valuations compressed to roughly 13 times earnings.
- Bitcoin retreated toward $82,000 while gold and silver also declined, as rising oil and a broad risk-off mood hit crypto alongside equities.
- Oil prices surged, with WTI topping $100 a barrel and Brent crude climbing above $112 — its highest level since May — compounding pressure on equity markets.
- The VIX jumped 10% to around 18, roughly 30% above September's low, signaling rising fear even as the U.S. 10-year Treasury yield eased to about 5.077%.
Why it matters: China's benchmark entering bear market territory effectively erases the optimism sparked by Beijing's September 24 stimulus package, with tech shares down more than 40% from peak. For global allocators, Brent crude above $112 paired with a 10% VIX spike signals a broad risk-off rotation that pressures portfolios heavy in Asian and AI-exposed equities simultaneously.
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