Skip to content

Fresh Selloff in China Tech Stocks Sparked by Earnings Worries

  • U.S. said speculation of China stock listings deal ‘premature’
  • Hang Seng Tech Index slides 5%; Meituan shares down 8.2%
Updated on

Chinese tech stocks slumped Friday amid continued concern about the sector’s earnings and the risk of local firms being kicked off American exchanges.

The Hang Seng Tech Index slid 5% in afternoon trading, the most in over a week. Delivery giant Meituan plunged 8.2% as investors had worried about the company’s growth ahead of its fourth-quarter results. Hong Kong’s benchmark Hang Seng Index lost 2.5% in a second day of declines.