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2021-07-08

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Tech Stocks Drag Key China Index in Hong Kong Toward Bear Market

A key gauge of Chinese stocks traded in Hong Kong is nearing a bear market as Beijing’s latest crack

Tech Stocks Drag Key China Index in Hong Kong Toward Bear Market

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The gauge was dragged down by some of the biggest internet names including Meituan, Alibaba Group Holding Ltd. and Tencent Holdings Ltd., which were down by at least 3.6%.</p>\n<p>The selloff comes after China’s cyberspace regulator suddenly ordered app stores toremoveDidi Chuxing over the weekend, dealing a major blow to the ride-hailing giant just days after it pulled off one of the biggest U.S. initial public offerings of the past decade.</p>\n<p><img src=\"https://static.tigerbbs.com/c137b88ae9b268495120a6694f12f527\" tg-width=\"930\" tg-height=\"523\" referrerpolicy=\"no-referrer\"></p>\n<p>Investors now worry that more troubles are ahead for the sector as Beijingmullsfurther rule changes that would allow them to block Chinese firms from listing overseas.</p>\n<p>“We see every motivation for China to limit overseas listings going forward,” Jefferies analysts including Edison Lee wrote in a note Wednesday. “China wants to rely less on U.S. capital markets to have more say in the U.S.-China relationship, and to develop its own stock market and boost Hong Kong’s financial center status.”</p>\n<p>The Hang Seng Tech Index, whose members include China’s biggest firms in the sector, fell 3.6% on Thursday, extending its weekly decline to more than 7%. That’s on track to be the deepest weekly loss since late February when a surprise stock trading taxhikeplan acceleratedprofit taking. The nation’s technology giants have lost more than$800 billionin market value since February highs.</p>","source":"lsy1584095487587","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>Tech Stocks Drag Key China Index in Hong Kong Toward Bear Market</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nTech Stocks Drag Key China Index in Hong Kong Toward Bear Market\n</h2>\n\n<h4 class=\"meta\">\n\n\n2021-07-08 14:36 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://www.bloomberg.com/news/articles/2021-07-08/doom-extends-for-china-tech-as-key-gauge-nears-bear-market><strong>Bloomberg</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>A key gauge of Chinese stocks traded in Hong Kong is nearing a bear market as Beijing’s latest crackdown drives investors to dump shares of the nation’s technology giants.\nThe Hang Seng China ...</p>\n\n<a href=\"https://www.bloomberg.com/news/articles/2021-07-08/doom-extends-for-china-tech-as-key-gauge-nears-bear-market\">Web Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"HSCEI":"国企指数","HSI":"恒生指数"},"source_url":"https://www.bloomberg.com/news/articles/2021-07-08/doom-extends-for-china-tech-as-key-gauge-nears-bear-market","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1128640650","content_text":"A key gauge of Chinese stocks traded in Hong Kong is nearing a bear market as Beijing’s latest crackdown drives investors to dump shares of the nation’s technology giants.\nThe Hang Seng China Enterprises Index tumbled by as much as 2.9% on Thursday, extending its loss since a February high to about 19%. 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Tech Stocks Drag Key China Index in Hong Kong Toward Bear Market

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