China stocks near bear market as AI trade and stimulus hopes fade

China's CSI 300 Index fell as much as 1.6% on Thursday, bringing its total losses from a June high to around 20%, putting mainland-listed shares on track for a technical bear market. Waning hopes for substantial stimulus, lackluster earnings, and global jitters over the AI trade weigh on sentiment. A gauge of major Chinese companies in Hong Kong dropped up to 2.9%, while soft results, like CATL's slower profit growth, kept investors cautious. China's third-quarter growth beat kept expansion within its annual target, allowing targeted stimulus. Authorities have moved to curb selling pressure, though analysts say state-backed buying alone may not sustain a recovery.