MSCI China Index Nears Bear Market After 20% Slide as Tech, Consumer Shares Weaken
Updated
Updated · Bloomberg · Jun 18
MSCI China Index Nears Bear Market After 20% Slide as Tech, Consumer Shares Weaken
3 articles · Updated · Bloomberg · Jun 18
Summary
The MSCI China Index fell as much as 2.1% on Thursday, leaving the benchmark down 20% from its Oct. 2 high and on the verge of a bear market.
Internet and consumer stocks drove the decline, extending weakness across sectors that had supported the gauge earlier in the cycle.
Alibaba Group Holding and Tencent Holdings were the biggest drags on the index, underscoring how heavyweight tech names are pulling the broader market lower.