AI leads ‘longest losing streak’ for Chinese stocks

The Chinese stock market index CSI 300 lost 3.4% last week, its 10th consecutive weekly decline and its longest losing streak since the index’s creation in 2005, with AI leadership in the wrong direction. Chipmakers and AI companies that powered Beijing’s spring rally are leading the sell-off. The country’s STAR 50 index — more than 30% of which is five AI companies — has lost 40% of its value since June 30. At 10 uninterrupted weeks of losses, the streak has now topped the previous record of consecutive weekly losses set in January 2012. From their peak values this year, the three most popular stock indices in China — Shanghai Composite, Shenzhen Component, and CSI 300 — have shed 12%, 28%, and 17%, respectively.

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