Hong kong’s hang seng tech index tumbled 6.6%, the worst performance for the benchmark since it launched almost. The selloff knocked companies such as tencent holdings ltd.
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September 15, 2021, 9:30 pm pdt updated on september 16, 2021, 2:45 am pdt.
Chinese tech stocks drop. Stocks crash to push more china cash into global real estate. A selloff in chinese technology stocks accelerated as investors unnerved by beijing’s widening crackdown on internet companies. Hong kong’s broader hang seng index ended the trading day about 0.1% lower at 23,766.69.
The hang seng tech index declined 1.53% to 5,925.52. The delisting threats failed to discourage chinese tech group ipos (initial public offering) on wall street, which rose at an average of 22% on the first trading day. World is still hooked on cheap money.
Chinese tech shares drop on new rules to prevent data, consumer abuse big tech in china will not be allowed to use algorithms to sway customer behavior and must end practices that stop traffic. Shares of china's two most valuable companies, alibaba ( baba ) and tencent ( tcehy ) , slid over the past 48 hours, with alibaba closing down 6.4% in hong. Stocks did during the covid crash.
China has problems, not a crisis. Mainland chinese stocks closed higher, with the. The nasdaq golden dragon china index, which tracks chinese businesses trading in the united states, is down 6% tuesday and 13% this week.
Beijing is undergoing a campaign to crack down on excesses in its tech sector. Shares of chinese tech stocks were tumbling today for the second session in a row as fears of regulatory crackdown by the chinese government continued to mount. Recent regulations in the chinese tutoring industry led to some stocks falling more than 90%.
China news service via getty images. Equity benchmarks dropped in japan, while hong kong opened weaker, dragged. Losses in taiwan semiconductor manufacturing co (tsmc) and samsung electronics helped send msci's gauge of asian tech stocks to its biggest drop since feb 26, while futures on the nasdaq 100.
September 2, 2021, 8:51 pm pdt updated on september 3, 2021, 1:35 am pdt. Baidu’s stock, which made its debut in hong kong last week, slid 5% on monday, adding to its 5.6% loss from friday. The index is at its lowest point in more.
It’s now a $4 stock. A once $60 billion chinese tech giant has crumbled into a $2 billion afterthought… similar collapses happened at new oriental and at gaotu technology : Chinese tech stocks have sold off more than u.s.
Chinese tech stocks send hang seng to biggest drop in three weeks on renewed concerns about regulatory crackdown. Other tech giants' stocks dropped, too. Chinese stocks drop off league table for.
China tech stocks drop as alibaba's donation worries investors. Chinese stocks extended their recent losses monday. Firm’s value has shrunk $388 billion amid tech crackdown.
Hang seng index slips 1.4 per cent in early trading, set for the biggest drag. Rose after saying it will close 900 stores over the next three years, part of. Inflation data and the federal reserve’s hawkish tilt.
China tech stocks drop as alibaba’s donation worries investors. A measure of tech shares, which includes many chinese giants, dropped 1.8%. The hang seng tech index, whose members include many of china's biggest tech giants, has plunged 26 per cent from its february high, versus a 10 per cent drop in hong kong's benchmark hang seng index.
Treasuries pared some of friday’s rally.
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