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Chinese Tech Stock Selloff Deepens
After Chinese ride-hailing giant Didi made its Wall Street debut, Beijing said it plans to tighten rules for homegrown companies looking to raise money overseas. WSJ’s Yoko Kubota takes a Didi ride to explain what the crackdown means for China’s tech titans and investors. Photo illustration: Ang Li
A selloff in Chinese technology stocks accelerated on Tuesday, as investors unnerved by China’s widening crackdown on Internet companies and other industries sold down their holdings of many popular stocks.
The Hang Seng Tech Index in Hong Kong, which includes stocks such as Tencent Holdings Ltd. and Alibaba Group Holding Ltd. , tumbled 8%, registering its third day of declines. The city’s flagship Hang Seng Index dropped 4.2%.
In mainland China, the CSI 300 benchmark retreated 3.5%. The Chinese yuan weakened against the dollar, with the offshore currency trading beyond 6.50 yuan per dollar, versus a previous close of 6.4834, according to FactSet.
자세한 내용은
https://www.wsj.com/articles/chinese-tech-stock-selloff-deepens-11627369038?mod=hp_lead_pos2
Chinese Tech Stock Selloff Deepens
A selloff in Chinese technology stocks accelerated as investors unnerved by Beijing’s widening crackdown on Internet companies and other industries sold down their holdings.
www.wsj.com
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