China Crackdown Triggers $130 Billion ADR Rout in Week of Tumult
- Nasdaq Golden Dragon Index posts worst week since March
- Investor appetite wanes as China’s tech scrutiny intensifies
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Didi Global Inc.’s surprise rebuke from Beijing proved at last that there are limits to investors’ seemingly insatiable appetite for Chinese stocks.
The Nasdaq Golden Dragon Index -- which tracks some of the biggest Chinese firms listed in the U.S. -- saw its worst week since March with a 6.4% slump. Of the index’s 98 members, only 15 managed to finish in the green this week, while 17 suffered a decline of at least 10%, according to data compiled by Bloomberg.