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China Tech Index Tumbles to Lowest Since Launch as Rout Deepens

  • Loss follows U.S.-traded Chinese stocks’ worst day since 2008
  • Dual-listed firms may drop more on American scrutiny: analyst
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WATCH: Selina Sia, head of Greater China equity research at Credit Suisse Private Banking, discusses the outlook for Chinese stocks, the economy and policies.Source: Bloomberg
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China tech shares tumbled on Monday, with a key gauge closing at its lowest level since launch last year as concerns mount over how much more pain Beijing is willing to inflict on the sector.

The Hang Seng Tech Index closed down 3.3%, its biggest decline in nearly two months, to the lowest level since before its July 2020 inception. Alibaba Group Holding Ltd. and Inc were the biggest losers, each sinking at least 4.9%. Both companies are also traded in the U.S.