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.
