State investment buoys indexes amid weak consumption, thin profits and AI concerns
An electronic board in Shanghai's Lujiazui financial district shows Shanghai and Shenzhen stock prices. Intense competition in China's industrial sectors and weak domestic demand are sapping the value of Chinese stocks. © Reuters
LORRETTA CHEN and WATARU SUZUKI
October 23, 2026 16:09 JST
Updated on October 23, 2026 18:17 JST
HONG KONG/SHANGHAI -- China's state-owned investment funds intervened in the stock market on Friday, analysts said, after shares slid into bear territory as investors increasingly question whether the country's much-hyped artificial intelligence sector can justify lofty valuations and offset broader economic troubles.