China’s Key Stock Gauge Reaches Oversold Zone on Weak Sentiment
- CSI 300 Index hits lowest level since 2019 amid economic woes
- Its 14-day relative strength index trades below oversold level
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China’s benchmark stock gauge has fallen to a level seen as oversold, as Beijing’s market rescue measures have failed to impress investors while the nation’s faltering economic performance remains an overhang.
The CSI 300 Index dropped as much as 0.9% Tuesday to its lowest level since February 2019. That pushed its 14-day relative strength index below 30, a level some traders see as indicating the market fell too far, too quickly.