China Tech Stocks Slide on Hawkish Fed, Lingering Delisting Risk
- Sentiment weak even as Beijing seeks to ease U.S. audit spat
- Hang Seng Tech Index down nearly 60% since Feb. 2021 peak
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Chinese tech stocks fell, as investors responded to hawkish comments from the Federal Reserve and awaited more clarity on how Beijing’s new rules will help keep local firms listed on U.S. exchanges.
The Hang Seng Tech Index slid 3.8% as trading in Hong Kong resumed after a holiday, with Alibaba Group Holding Ltd. and JD.com Inc. among the biggest decliners. The broader Hang Seng Index dropped 1.9%.