China Stocks Slide as Covid Curbs Temper Reopening Hopes
- Hang Seng China gauge caps third day of declines after rally
- Crypto turmoil, caution ahead of US CPI also weigh on mood
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Chinese stocks dropped as the nation increased Covid restrictions in some of its biggest cities, dampening hopes of a reopening that triggered a rally earlier this month.
The Hang Seng China Enterprises Index slid 2.1% Thursday, taking its three-day drop to almost 4%. A gauge of Chinese tech stocks in Hong Kong lost 3.3%, with heavyweights Tencent Holdings Ltd. and Alibaba Group Holding Ltd. sliding ahead of their earnings next week.