China’s Stocks Enter Bear Market as Selling Spreads Across Asia

China’s CSI 300 entered a bear market on Thursday after 10 straight weekly declines, trading at 4,060.19 at the morning break, about 20% below its June peak and 13.94% lower than its January 1 level. The selling spread across Asia, with South Korea’s KOSPI down 2.56%, Japan’s Nikkei 225 down 1.65% and Taiwan’s TAIEX down 1.15%. On Tuesday, China held its one-year loan prime rate at 3.0% and five-year loan prime rate at 3.5% for a 17th straight month. Third-quarter growth reached 4.5%, beating forecasts, and Maybank analysts said stable headline growth made new stimulus less urgent.