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Trade War Ended China's First Bull Market After Only 69 Days

  • Bleak end to a holiday-shortened week as markets slide
  • Shanghai Composite faces test on Monday’s market open
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This year’s first bull market in China’s stocks perished after just 69 trading days.

The tech-heavy ChiNext Index slumped 2.4% Thursday, taking its decline since an April peak to 20%. The glum end to a holiday-shortened week was widespread across Chinese stocks, threatening the longest calm spell in months. Average daily turnover sank to the lowest since February, with concern over valuations and a rival tech board’s impact on liquidity also keeping dip buyers away. The ChiNext’s last bull run ended in 2017 after 200 days.