Investors Concerned Over China Tech Crackdown
China’s move to crackdown on tech stock IPOs is fuelling growing doubt among international investors according to analysts.
Chinese tech stocks faced a third straight day of heavy selling in London which is seeping into currency and debt markets.
Money managers are feeling exposed more than ever as Beijing seeks to reduce the dominance of some of its tech, property, ride-hailing and even private education operations.
China’s blue-chip index dropped to its lowest in nearly eight months. In US trading, the Nasdaq Golden Dragon China benchmark of Chinese tech stocks listed in New York also fell again wiping US$500 billion off its value.