> ## Content Index > Fetch the complete content index at: https://www.moneyespresso.co/llms.txt > Use this file to discover other available public pages before exploring further. # 🇨🇳 China’s bears meet a big buyer - URL: https://www.moneyespresso.co/evening-shot-2026-10-23/ - Published: 2026-10-23T12:16:46.000Z - Updated: 2026-10-23T12:16:46.000Z - Description: And Seoul's 4% hole fills by the bell | Your Evening Shot is ready | 4-min read - Author: Money Espresso - Tags: Evening Shot Evening Shot · Friday, 23 October 2026 Asia Wrap23 Oct · Asia close FBM KLCI 1,611.56 +0.21% USD/MYR 4.0800 −0.02% KOSPI 5,550.30 +0.30% NIKKEI 225 62,693.16 −0.34% HANG SENG 23,093.37 +0.69% CSI 300 4,105.33 +1.71% THE EVENING HANDOVER # Asia buys the dip. Bursa holds the line. Since breakfast - Bursa’s benchmark rose 0.21% to close at its high of the day, carried by bank heavyweights while the wider market split evenly. - Seoul erased a 4% morning plunge to close higher, with SK hynix leading the rebound. - Mainland China’s blue chips jumped 1.71% a day after entering a bear market, as traders spotted state-linked buying. ## 🇲🇾 Bursa’s heavyweights carry a tired market ### What happened? The FBM KLCI [rose 3.42 points, or 0.21%, to 1,611.56](https://www.bernama.com/en/market/news.php?id=2624646&ref=moneyespresso.co), closing at its high of the day after dipping to 1,604.38 in the morning. Selective buying in heavyweights did the lifting: Maybank added 9 sen to RM10.06, Tenaga Nasional 6 sen and Public Bank 4 sen. Beneath them the market was split, with 528 gainers against 529 decliners. The busiest counter was Zetrix AI, which jumped 50% to 7.5 sen on 392.85 million shares ahead of a meeting of holders of its RM2 billion sukuk over a covenant breach; no outcome had been announced by our cutoff. The stock started the year at 81 sen. ### Why it matters A green close carried by a few banks and a utility is a holding pattern, not a rally: as many stocks fell as rose. Zetrix’s surge is a bet on a deal with its sukuk holders, not on earnings—without a waiver, the trustee could demand the RM2 billion back at once. Next week’s Fed meeting is the next test of whether wider buying follows. ## 🇰🇷 Seoul’s 4% hole fills by the bell ### What happened? The KOSPI [fell as much as 4.12% soon after the open](https://news.sbs.co.kr/english/article.do?news%5Fid=N1008812382&ref=moneyespresso.co), its lowest since 29 July, as Wall Street’s AI sell-off reached Seoul. Bargain hunters then reversed the whole move: the index closed up 0.30%, at its high of the day. SK hynix led the turn, ending 4.42% higher after it suspended its review of a US listing for its subsidiary Solidigm; Samsung Electronics edged up 0.47%. Tokyo recovered less. The Nikkei shed 0.34% after being down more than 1,400 yen at one point, as chip stocks and banks weighed. ### Why it matters Korea’s chipmakers are among Asia’s most direct AI-hardware plays, so a reversal this sharp shows buyers still step in on fear rather than abandon the theme. But a market that swings 4% in a morning is pricing doubt, not conviction. For Malaysians in regional tech or Asia funds, expect more of these swings until the big AI spenders show returns. ## 🇨🇳 China’s bears meet a big buyer ### What happened? A day after the CSI 300 confirmed a bear market—a 20% fall from its June peak—mainland stocks opened lower again, then turned: the CSI 300 closed up 1.71% and the tech-heavy ChiNext jumped 4.16%. Traders pointed to [heavier inflows into big index ETFs](https://finimize.com/content/chinas-national-team-helped-stocks-finish-friday-higher?ref=moneyespresso.co), the vehicles usually linked to state support. Robot makers led after Elon Musk talked up humanoid robots. Hong Kong’s Hang Seng rose 0.69%, clawing back part of Thursday’s 3.03% drop. ### Why it matters State-linked buying can put a floor under prices for a day, but it doesn’t fix what drove the slide: doubts about stimulus and the global retreat from AI stocks. Watch whether buying spreads beyond robotics and the index heavyweights next week. For Malaysian readers in China funds, a bounce inside a bear market is not yet a recovery. ## 👀 What to watch 23 OCT · 8:45 PM MYT**[US flash PMIs and Michigan sentiment](https://www.investing.com/news/stock-market-news/pmi-data-and-consumer-sentiment-among-economic-releases-due-friday-93CH-4967147?ref=moneyespresso.co)**Business activity at 8:45 PM, then consumers’ one-year inflation expectations at 9:00 PM (forecast 4.7%). After Thursday’s bond rally trimmed Fed hike bets, a hot reading could push yields back up. **Oil at a five-month high**Brent traded near US$114 a barrel in Asian hours after Houthi attacks on Saudi Arabia. Watch whether US and European trading tonight adds to the risk premium: dearer oil helps Malaysian energy stocks but feeds inflation. 26 OCT · 9:00 AM MYT**Monday’s Bursa**Sarawak’s state assembly is dissolved on Monday, with an election due within 60 days, and the Fed meets next week. Look for whether buying spreads beyond the bank heavyweights. Information cutoff: 23 Oct, 18:47 MYT[MoneyEspresso.co](https://moneyespresso.co/?ref=moneyespresso.co)Enjoyed this? [Share it on WhatsApp](https://wa.me/?text=%F0%9F%87%A8%F0%9F%87%B3%20China%27s%20bears%20meet%20a%20big%20buyer%20%E2%80%94%20Money%20Espresso%20https%3A//moneyespresso.co/evening-shot-2026-10-23/&ref=moneyespresso.co)