HONG KONG, March 14 — Hong Kong stocks fell nearly four per cent today as technology firms were hit by concerns over China’s crackdown on the sector and as the country’s tech hub Shenzhen was put into lockdown.
The crisis has further rattled Hong Kong investors who have also had to contend with China’s regulatory crackdown on the private sector, with once-flying technology companies most often in the crosshairs. Public transport has been suspended and officials have told all residents to stay at home, with the lockdown set to last until March 20 while three rounds of mass testing are carried out.
The selling follows a rout of Chinese firms listed in the United States last week that was sparked by concerns about a crackdown by authorities there.