According to CoinMeta, the Chinese stock market continued its downward trend for 12 weeks on October 30th, with the CSI 300 index falling by 15% over the past 12 weeks, recording the largest monthly decline in a decade. On Friday, the CSI 300 index fell by 1.4%, with a cumulative decline of about 8.5% for the month of October. Despite Chinese authorities' attempts to stabilize the stock market and state-owned investors purchasing approximately $25.5 billion worth of stocks this week, they were unable to reverse the overall downward trend. Meanwhile, the Hong Kong stock market rose by about 1.5%. Analysts pointed out that some Chinese internet stocks may have already reflected pessimistic expectations regarding future AI spending and profitability.