CSI 300 Index fell 3.3%, its worst drop in a year, as the Iran war hit
sentiment, pushing market breadth and momentum to extreme levels. Decliners
outnumber gainers by over 1,100 stocks, while the Shanghai Composite Index RSI
dropped to 23, signaling oversold conditions. You Lanqiang, a fund manager at
Pingtan Strategic Asset Management, said losses were driven by momentum traders
and the selloff may offer a buying opportunity. Earnings forecasts remain firm
and dividend yields rise to 2.7%.
