China's CSI 300 index slipped into bear-market territory in the session on October 22, confirming a decline of more than 20% from its recent peak. The drop came as an AI-stock selloff across the region deepened, with Alibaba and JD.com among the hardest hit after Chinese regulators intensified scrutiny of the companies, according to Investing.com reporting.
Both stocks fell sharply in the session, with coverage flagging the regulatory pressure as the direct trigger rather than company-specific earnings news. The move adds to a stretch of weakness for Chinese tech names that have been caught between a slowing AI trade and renewed government oversight of large platform companies.
It remains unclear which specific regulatory actions are driving the latest scrutiny or how long authorities intend to sustain the pressure. Investors will be watching for any official statements detailing the scope of the review into Alibaba and JD.com.