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AI & Enterprise

China AI boom a bubble as $2.4 trillion wiped off stock market

China\'s mainland stock market has lost about $2.4 trillion in market value since May as investor scepticism grows over whether the country\'s AI industry can generate real profits, fueling broad selling. AI firms account for a large share of market capitalisation and trading volume in mainland China and Hong Kong. The CSI 300 has fallen into a bear market, while Shanghai\'s STAR 50 has plunged. Valuation concerns, new AI models, policy moves, U.S. regulatory tightening and global market strains have also weighed.

Crypto

Bitcoin $150,000 target fades as Citi, Standard Chartered and Bernstein cut forecasts

Citi, Standard Chartered and Bernstein have lowered their bitcoin price targets for this year, CoinPost reported on Oct. 27. With bitcoin trading around $80,000, reaching $150,000 would require an 88% rise. Standard Chartered cut its year-end target to $100,000 and Bernstein set $125,000, pushing $150,000 to mid-2027. Some earlier high-end forecasts have since been revised down as macro and regulatory uncertainty persists.

Finance

KOSPI faces rebound test as Samsung Electronics and SK Hynix shareholder returns in focus

South Korea\'s stock market will test the scope for a rebound this week as investors weigh the U.S. Federal Open Market Committee meeting and major earnings at home and abroad. With doubts persisting about the profitability of AI investment, semiconductor results and future investment plans are expected to shape sentiment. SK Hynix reports third-quarter earnings on Oct. 28 and Samsung Electronics releases final third-quarter figures on Oct. 29, with attention on HBM demand, capex and shareholder returns.