Chinese stocks suffered their worst sell-off in six months as a lack of significant policy support following the Third Plenum of the 20th Central Committee of the Communist Party of China exacerbated bearish sentiment.

The CSI 300 Index closed down 2.14% on Tuesday (July 23, 2024), with material stocks and technology stocks suffering the biggest declines.

According to Bloomberg, there were signs of state-run buying last week, which drove the stock market up. However, with the closing of the Third Plenary Session of the 18th CPC Central Committee, these activities have significantly decreased. Previously, the CSI 300 Index had risen for seven consecutive trading days.