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China Tech Selloff Deepens as U.S. Delisting Fears Alarm Traders

  • Hang Seng Tech Index pares loss to 4.3% from 8.9% earlier
  • Delisting worries not new but add to weak sentiment: analysts
Bloomberg business news
WATCH: Primavera Capital Group Founder Fred Hu discusses the China tech selloff.Source: Bloomberg
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Chinese tech shares slid, tracking overnight weakness in their U.S. peers, as renewed regulatory concerns unnerved investors still reeling from wild price swings this week.

Hong Kong’s Hang Seng Tech Index ended Friday 4.3% lower, paring a decline of as much as 8.9% in the morning. Traders attributed the trimming to a local media report that a Sino-U.S. negotiation on collaboration of the accounting regulations has been smooth and both sides have expressed willingness to solve the issues. The benchmark Hang Seng Index also cut losses by more than half to 1.6%.