**JUST IN:** 🇨🇳 China's "STAR 50" tech stock index has now crashed 42% since reaching an all-time high in June.

China's STAR 50 index, which tracks the largest companies on Shanghai's Nasdaq-style tech board, has reportedly fallen 42% from its June all-time high. The move points to a sharp de-rating of Chinese technology equities, with the drawdown transmitting through domestic risk appetite and the cost of equity capital for growth-oriented issuers. Exposure is concentrated in semiconductor, software, and internet-linked names, which typically carry higher valuation multiples and are more sensitive to shifts in liquidity and sentiment, while broader offshore-listed Chinese tech and China-focused funds are likely to feel secondary pressure through correlated flows. Traders will watch the next round of China's monthly activity and credit data, particularly new yuan loan and social financing figures, for signs of whether policy support is sufficient to stabilize tech valuations.

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