China Tech Stock Rally Fades as Regulatory Concerns Linger
- Hang Seng Tech Index was up as much as 3.5% earlier in day
- Bargain hunting loses steam after enjoying two-day rally
This article is for subscribers only.
Chinese technology stocks struggled to extend their rally into a third day, as bargain hunters retreated amid lingering concerns about how far Beijing may push ahead with its clampdown on private enterprise.
The Hang Seng Tech Index trimmed its gain to 0.2% at the close, after jumping as much as 3.5% earlier. New Oriental Education & Technology Group also pared its surge to 13% after rising as much as 22%.