The CSI 300 index is down over 2.5% on the day, touching its lowest levels since June 2020. Meanwhile, the Hang Seng index is battered down by nearly 4% on the day to its lowest since February 2016.
It's a brutal one for Chinese equities as the tech implosion is making for more dour sentiment, with lockdowns all across China adding to the misery at the moment.
Looking at the charts, the CSI 300 index is falling past its 200-week moving average with the next test likely to be at the 4,000 level. As for the Hang Seng, the 2016 low @ 18,278.80 is the next key level to watch.
