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Panic Selling Grips Chinese Stocks in Biggest Plunge Since 2008

  • Rout has erased $2.1 trillion from China tech stocks from peak
  • Geopolitical risks saw U.S.-listed Chinese shares slump Friday
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China Tech Stocks Slide as Russia, Covid Concerns DeepenSource: Bloomberg
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Chinese stocks listed in Hong Kong had their worst day since the global financial crisis, as concerns over Beijing’s close relationship with Russia and renewed regulatory risks sparked panic selling.

The Hang Seng China Enterprises Index closed down 7.2% on Monday, the biggest drop since November 2008. The Hang Sang Tech Index tumbled 11% in its worst decline since the gauge was launched in July 2020, wiping out $2.1 trillion in value since a year-earlier peak.