China’s STAR50 Selloff Sheds $480 Billion in Market Value
Photo: TokenPost
China’s technology-focused STAR50 shed about 40% in less than four months , losing roughly $480 billion in market value and raising a potential fundraising risk for AI companies. The STAR50 tracks companies listed on Shanghai’s technology-focused STAR Market. The index traded at about 100 times trailing earnings, down from nearly 250 times at its peak. The Nasdaq 100 was at about 30 times earnings in the comparison. The decline extended beyond technology stocks. The CSI 300, which tracks 300 large and liquid A-share stocks, had fallen more than 20% from its June peak by Oct.
Source: TokenPost
