STAR 50 Index
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- China AI and semiconductor stocks slide sharply
China’s STAR 50 Index, home to major AI and semiconductor companies, fell 40% in less than four months, wiping out about $480 billion in market value, while the CSI 300 dropped roughly 20% from its June high. Goldman Sachs data said AI stocks represented 42% of China’s market capitalization and 57% of trading turnover across onshore A-shares and Hong Kong H-shares. Unitree Robotics has halved since trading began in August, CXMT has lost more than a quarter of its market value in a month, and Zhongji Innolight and Eoptolink are about 60% below their June and July highs. The report said there was no single obvious trigger, but traders cited high valuations, tax bills and possible restrictions on Chinese equipment entering data centers.
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