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Asian stocks fall sharply as China's CSI 300 hits bear market; Bitcoin drops amid rising oil prices and mixed U.S. earnings.

Market News
22 Oct 2026
Coindesk
View Source
Bearish
Asian stocks fall sharply as China's CSI 300 hits bear market; Bitcoin drops amid rising oil prices and mixed U.S. earnings.

Asian stock markets declined significantly, with China's CSI 300 entering a bear market after falling 20% from its June peak, driven by a steep drop in technology shares. Other major Asian indices, including Japan's Nikkei 225 and South Korea's Kospi, also fell around 3% or more. Rising oil prices, with Brent crude surpassing $112 a barrel, added pressure to the markets. Bitcoin retreated toward $82,000 after losing gains above $84,000, while gold and silver prices also declined. Mixed third-quarter earnings from U.S. companies, including Tesla's lowered capital spending forecast and Meta's cautious AI investment outlook, contributed to investor uncertainty. Despite easing U.S. Treasury yields, market volatility increased, reflecting concerns over global economic growth and technology sector prospects.

As of Oct 22, 2026 16:02 WIB, Bitcoin on Pluang trades at Rp1.473.944.285, down 1.50% over the past day, with a market cap of Rp29.708,5 trillion. Despite the broader Asian market selloff and rising oil prices, Pluang users show a balanced order activity with 48% selling and 52% buying, holding their BTC for an average of 112 days. The notable figure is the Rp682,28 trillion 24-hour trading volume, indicating active engagement despite recent price declines.

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