China stocks slip, set for 12th straight weekly loss on AI-led selloff

Chinese equities weakened on Friday as losses in artificial-intelligence stocks overseas added pressure, leaving the CSI300 on course for a 12th consecutive weekly decline. By midday, the index had fallen 0.4% to its lowest level in a year, while the Shanghai Composite was down 0.3%; Hong Kong’s Hang Seng, by contrast, gained 1.6%. Business Recorder reported the moves.

The CSI300 had shed 0.9% over the week and 7.6% in October, putting it on track for its steepest monthly drop since July. Its 14% retreat across 12 weeks marks its longest losing run on record, while Shanghai’s STAR50 fell 1.8% and a 5G communications gauge dropped as much as 6% in early trading. Hong Kong-listed technology leaders rose 1.4%, and consumer staples and mainland property developers also advanced, showing that trading was not uniformly weak.