According to CoinMeta, China's CSI 300 index fell below 20% on October 22, entering a bear market, closing at 4036.30 points, which is the lowest level since July 2025. The index has declined by about 20.2% since June 22, mainly due to continuous selling of tech stocks, weakness in AI stocks, poor corporate earnings, and diminishing hopes for stimulus policies. Meanwhile, Hong Kong's Hang Seng Index fell by about 3%, and the Hang Seng Tech Index fell by 5%.