The Chinese stock market experienced a significant downturn on Wednesday, with the Shanghai Composite Index dropping by 0.7%, falling back to the 3,000 mark for the first time since the end of February. This decline was part of a broader trend, with 83% of stocks dropping and the Hang Seng Index also down by 1%. The downturn erased the gains made in March, attributed to earnings disappointments that undermined the optimism from a policy-driven rally starting in February. The CSI300 index closed below the level set on the last trading day in February, and a broad gauge of Shanghai-listed stocks dropped below a key threshold. However, the market showed signs of recovery on Thursday morning, with the Shanghai Composite Index rebounding after breaking the 3,000 mark at the opening. The Shenzhen Component Index and the tech-heavy ChinNext Price Index both saw increases of over 1%, and the Hang Seng Index was up by 0.9%, with the Tech Index leading gains at 2.7%.