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Asian Stocks Tumble, Bitcoin Retreats Amid China’s Bear Market
Asian stocks, particularly Chinese equities, experienced significant declines on Thursday. The CSI 300, tracking the largest stocks in Shenzhen and Shanghai, fell 2%, marking a decline from June’s peak. Other regional benchmarks, including Japan’s Nikkei 225, South Korea’s Kospi, Taiwan’s benchmark, and Hong Kong’s Hang Seng, also saw losses. Bitcoin BTC $84,459.46 retreated below $84,000, with the market retreating toward $82,000. Rising oil prices, with Brent crude above $112 per barrel, added to investor concerns. Mixed U.S. earnings reports and the U.S. 10-year Treasury yield near 5.077% also contributed to the market volatility.