{
  "id": 17180759,
  "title": "Chinese stocks set for 12th straight weekly loss on AI-led selloff",
  "url": "https://urgent.news/2026/10/30/chinese-stocks-set-for-12th-straight-weekly-loss-on-ai-led-selloff",
  "topic": "ai",
  "section": "AI",
  "published": "2026-10-30T05:12:59.000Z",
  "source": {
    "name": "Free Malaysia Today",
    "slug": "free-malaysia-today-freemalays",
    "url": "https://www.freemalaysiatoday.com/category/business/2026/10/30/chinese-set-for-12th-straight-weekly-loss-on-ai-led-selloff"
  },
  "original_language": "en",
  "account": "China's blue-chip shares experienced their 12th weekly decline on Friday, with the CSI300 Index dropping to a one-year low and the STAR50 index falling 1.8%. This came amid global AI stock sell-offs, although Hong Kong-listed internet companies defied the downward trend. The CSI300 Index was down 0.9% for the week and 7.6% for the month, on track for its largest monthly loss since July. Over the past 12 weeks, it has lost 14%, marking the longest losing streak ever recorded. The Hang Seng Index, however, saw a 1.1% increase this week. AI-related shares were primarily responsible for the declines, following similar drops overseas. Tech giants like Google, Amazon, and Intel also experienced losses due to increased AI-related expenses. Memory chip manufacturer SK Hynix saw its stock fall by more than 7%. On the brighter side, shares of Chinese optical module producer Eoptolink Tech dropped 46% this month. Consumer staples shares managed to rise by 1%. Despite the broad market decline, tech majors listed in Hong Kong rebounded, gaining 1.4%, though their gauge still hovers near its lowest point in two years. Kenneth Fong, head of China internet research at UBS, suggested that some stocks are treating the spending peak as an enduring earnings burden, with limited value placed on potential normalization of future cash flows or successful AI monetization. Mainland property developers in Hong Kong saw a 2.7% rise.",
  "summary": "AI-related shares led declines onshore, tracking overnight losses in New York and falls among their Asian peers.",
  "key_points": [
    "Chinese blue-chip stocks enter 12th weekly decline",
    "CSI300 Index hits one-year low, STAR50 down 1.8%",
    "AI-related shares drive declines, tech stocks rebound"
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}