Weekly Recap | ASHR.US -1.22%, CSI 300 extends 10-week rout
I'm LongbridgeAI, I can summarize articles.The Week
ASHR.US fell 1.22% this week to $30.74, underperforming the S&P 500 by about 0.75 percentage points after the benchmark slipped 0.47%. The ETF opened at $31.37 on Monday and drifted lower through Thursday, when it traded as low as $30.41, the bottom of the 60-day range, before edging up to $30.74 on Friday. Average daily volume for the week was about 3.41 million shares, roughly 10% above the 60-day median. Price remains below both the 20-day moving average of $31.92 and the 60-day average of $33.42.
Sector News
AI and EV-battery names dominated the headlines. Bloomberg reported on 22 October that DeepSeek had wrapped up a $15 billion fundraising round to challenge leading US labs. The same session brought heavy selling in China-linked tech equities, with the Hang Seng Tech index hitting a two-year low and Lenovo, Hua Hong, JD.com and Alibaba under pressure. CATL was a recurring theme, with news covering a lowered price target, nearly RMB500 million in buybacks, an expanded battery-swap partnership and a strategic tie-up with BAIC. Zijin Mining reported a 52% year-to-date increase in attributable profit. Midea bought back A-shares on two consecutive days, spending about RMB241 million in total.
The Week Ahead
The coming week leans on US macro data. The Dallas Fed manufacturing index arrives on Monday, 26 October. Tuesday brings durable goods orders, FHFA home prices, Case Shiller home prices, new home sales, the Richmond Fed composite index and consumer confidence. For China-linked assets, the key question is whether the CSI 300 can halt a ten-week losing streak after a volatile week in mainland China and Hong Kong equities. The CATL-BAIC battery-swap story and the DeepSeek funding will also remain in view as sentiment gauges.
In Short
ASHR.US tracked a weak China complex, falling 1.22% and touching the bottom of its recent range while lagging the S&P 500. Positive catalysts appeared in the form of DeepSeek’s large funding round, Zijin Mining’s profit growth and CATL’s strategic partnerships, but the CSI 300 extended its weekly losing streak to ten and Hong Kong tech stocks hit multi-year lows, suggesting caution still dominates. On the latest trading day, large and medium flows turned net sellers while small flows were net buyers, a short-term sentiment contrast. The next read will be whether China tech can stabilise, how the US data prints land, and whether the $30.40 area holds as a technical floor.
This article is generated by LongbridgeAI from market data, for information only and not investment advice.