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China Tech Stocks Suffer Renewed Selling as Growth Worries Mount

  • Hang Seng Tech Index falls for a fourth day to lose almost 10%
  • Traders assess Beijing’s fresh vows to win the virus fight
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JPMAM Portfolio Manager Lilian Leung on China Strategy
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China’s technology stocks slumped, tracking a tumble in its U.S.-listed peers, as growth worries from the nation’s Covid Zero policies and lack of concrete measures to support the sector triggered further selling. 

The Hang Seng Tech Index slid 5.2% Friday, declining for a fourth straight session to take this week’s decline to near 10%. The losing streak erased the bulk of last week’s rally spurred by the nation’s top leaders promising to loosen a regulatory crackdown on the sector.