China stocks fall amid Taiwan tensions, ChatGPT shares weigh

China stocks fell on Monday amid heightened geopolitical tensions around the Taiwan Strait, and a slump in ChatGPT-related shares damped sentiment. ** But the first batch of blue-chips to float under a U.S-style listing system surged on their debut. ** The Hong Kong market is closed for the Easter holiday. ** The blue-chip CSI300 Index fell 0.5%, while the Shanghai Composite Index dipped 0.4%.

China stocks fell on Monday amid heightened geopolitical tensions around the Taiwan Strait, and a slump in ChatGPT-related shares damped sentiment.

** But the first batch of blue-chips to float under a U.S-style listing system surged on their debut. ** The Hong Kong market is closed for the Easter holiday.

** The blue-chip CSI300 Index fell 0.5%, while the Shanghai Composite Index dipped 0.4%. ** Risk appetite was curbed by a flare-up in geopolitical tensions, after China's military simulated precision strikes against Taiwan in a second day of drills around the island on Sunday.

** China began three days of military exercises after Taiwan President Tsai Ing-wen returned from a brief visit to the United States. ** Market was not helped by a tumble in tech stocks as the ChatGPT mania cooled.

** The Artificial Intelligence (AI) Index tumbled 5%, the biggest one-day drop in six moths. The STAR Chip Index slumped 4.1% in its worst day since last September, while the STAR 50 Index closed down 2.7%. ** Bucking the broad market tepidness, 10 Chinese stocks jumped on their debut which marks the full roll-out of China's registration-based IPO mechanism.

** Shenzhen CECport Technologies Co, an electronic components distributor based in the southern technology hub Shenzhen, surged 221.5%, following its 2.25 billion yuan ($327.18 million) IPO. ** Dencare Chongqing Oral Care Co, an oral products maker, closed up 174% and Shaanxi Energy Investment Co gained nearly 50%.

** Investors cheered the introduction of the new IPO system to the main board. The system had previously been adopted by Shanghai's tech-focused STAR Market, Shenzhen's start-up board ChiNext and the Beijing Stock Exchange for small companies.