FINANCE

China Stocks Slide as Technology Selloff Deepens

Published: Oct. 16, 2026 2:47 a.m. GMT+8

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The Shanghai index declined 1.6% to 3,707.5 on Thursday, while the tech-heavy ChiNext Index dropped 2.9%. Photo: IC

Chinese stocks fell sharply on Thursday as a selloff in technology shares left the benchmark Shanghai Composite Index just above 3,700.

The Shanghai index declined 1.6% to 3,707.5, while the tech-heavy ChiNext Index dropped 2.9%. More than 92% of listed stocks fell. Liquor and securities were the only sectors to advance, gaining 1.2% and 0.3%, respectively.

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Shanghai Composite fell 1.6% to 3,707.5; ChiNext dropped 2.9%, with over 92% of stocks declining.
CXMT lost its top A-share position as market cap fell below 3 trillion yuan ($448 billion).
Margin-trading balance dropped 10.8 billion yuan to 2.5 trillion yuan; South Korea's Kospi plunged 7.6%.

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Who’s Who

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What Happened When

First half of 2026：: Some mutual funds doubled in value.

Second quarter of 2026：: Insurers and "fixed income plus" funds increased their technology allocations.

June 2026：: Zhongji Innolight Co. Ltd. reached its record high.

July 2026：: Nasdaq Composite's last biggest one-day decline before October 14, 2026.

August 1, 2026：: Start of period for comparing Nasdaq, STAR 50, and ChiNext performance.

Wednesday, October 14, 2026：: Combined margin-trading balance fell by 10.8 billion yuan to 2.5 trillion yuan; Nasdaq fell nearly 2%, S&P 500 dropped 1.1%, Dow edged down 0.1%; net margin flows were negative in six of the past seven trading days up to this date.

Thursday, October 15, 2026：: Chinese stocks fell sharply; Shanghai Composite declined 1.6% to 3,707.5; ChiNext Index dropped 2.9%; more than 92% of listed stocks fell; CXMT Corp. lost position as most valuable A-share company; Zhongji Innolight fell 5.2%, Eoptolink dropped 7.5%, Suzhou TFC declined more than 2%; South Korea's Kospi plunged 7.6% triggering circuit breakers; South Korean financial regulators held emergency meeting.

As of October 15, 2026：: 1,116 stocks were below their opening prices on Sept. 24, 2024; STAR 50 and ChiNext each lost more than 10% since Aug. 1, 2026.