China enters bear market as Asian tech stocks and bitcoin retreat
Asian stocks tumbled and bitcoin retreated as China entered a bear market, with technology shares leading regional losses. Mixed U.S. earnings and Brent crude above $112 a barrel add to the pressure on risk assets.
STOCK PHOTO · RDNE STOCK PROJECTThe story
Technology shares led losses across Asian markets as China entered a bear market and bitcoin retreated. The move came against a backdrop of mixed U.S. earnings and Brent crude climbing above $112 a barrel, giving investors both an earnings and energy-cost signal to weigh.
The combination links the regional equity selloff to two competing forces: uncertainty over corporate results and a higher oil price. China’s move into a bear market marks a sharper deterioration in sentiment around the region’s largest equity market.
Technology shares were the main sector named in the decline, while bitcoin extended the retreat across risk assets. Brent’s rise above $112 a barrel adds a separate pressure point for economies and companies exposed to energy costs.
The immediate setup remains dependent on whether mixed U.S. earnings continue to unsettle markets and whether crude holds above that level. Further weakness in Chinese equities, technology shares or bitcoin would indicate that the risk-off move is broadening.
Our read · Thu, Oct 22
China entered a bear market as Asian technology shares tumbled and bitcoin retreated amid mixed U.S. earnings.
Why. The setup is a broad risk-asset repricing rather than a single-company event: Chinese equities, Asian technology shares and bitcoin are moving lower while Brent crude climbs above $112 a barrel. Mixed U.S. earnings provide the immediate equity catalyst, but the next read depends on whether earnings uncertainty and higher energy prices continue to reinforce one another.
Both cases
What could change this view: A reversal in U.S. earnings sentiment or a retreat in Brent crude could quickly weaken the risk-off setup.
Who reported it · 1
Keep reading
Latest on the Wire
Oracle cancels $7bn Tencent AI deal under Trump pressureAMD forecasts quarterly revenue above estimates on record data-center salesGulf allies brace for US strikes on Iran and retaliationTrump says US will end nearly $4B in annual Israel aid by year-endUS job openings jump 333,000 to 7.523 million in SeptemberContinue on the Wire →Latest on the Wire
ADM files 8-K — Archer-Daniels-Midland CoShopify misses revenue expectations as tech market turns less forgivingDynatrace shares tumble 16% on disappointing guidance outlookBall posts 6.8% comparable EPS growth as GAAP swings to lossContinue on the Wire →Top this week
Binance halts withdrawals after apparent $6.3bn security breachAlphabet cloud revenue doubles as AI threatens search monetizationFed holds rates at 3-3/4 to 4 percent in 10–2 FOMC voteAmazon burns $33.5 billion in free cash flow as capex surgesTrump’s Republican Party faces a midterm verdict from US voters todayAbout this report
Reported by CoinDesk as Asian stocks tumble, bitcoin retreats as China enters bear market
, . Who answers for this
The only report in this record. Closes are licensed end-of-day data from Databento; the move after a story is its first close against the close before it. How this is decided →
Kept as written · your side, if you take one, is graded privately against licensed closes after 10 trading days · nothing here is advice · How the Wire is made →