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FBI’s Wanted List Sends Chinese Tech to First From Worst

Investors in Chinese technology shares can thank the U.S. Justice Department for turning their unprofitable bets into the stock market’s biggest winners.

The benchmark gauge of mainland technology companies has rallied 5.5 percent since May 19, when the U.S. indicted five Chinese officials and put them on the Federal Bureau of Investigation’s most-wanted list for cyber crimes. After the move, China excluded Microsoft Corp.’s Windows 8 from a state purchasing order, asked banks to switch from International Business Machines Corp. servers to a local brand and said it will vet technology firms for national-security breaches.