Chinese Tech Stocks Drop to New Crackdown Lows, Led by Alibaba

Hang Seng Tech Index falls for third straight session
Investor fears mount of a new wave of tech crackdowns

Tencent Leads China Tech Selloff Amid Fears of Further Crackdown

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By Jeanny Yu and Ishika Mookerjee

February 22, 2022 at 2:24 AM UTC

Updated on

February 22, 2022 at 8:58 AM UTC

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Chinese technology stocks dropped for a third straight session amid fresh worries over Beijing’s regulatory plans for the sector.

The Hang Seng Tech Index fell 1.9% on Tuesday to the lowest close since its inception in 2020. Alibaba Group Holding Ltd. was among the biggest losers following a Bloomberg report that authorities have begun another round of checks on its fintech business arm.