The Hang Seng Tech Index fell as much as 3.1% on Tuesday, on course for its lowest close since inception in July 2020. Alibaba Group Holding Ltd. led declines following a Bloomberg report that authorities are kicking off another round of checks on its fintech business arm.
it’s facing a new crackdown on its core businesses. Meituan dropped to the lowest since July 2020 after Beijing on Friday ordered the delivery platform to cut fees. The question is “how much large internet companies’ earnings will be impacted in the long-term if they are required to take increasing social responsibility,” said Jian Shi Cortesi, a portfolio manager at GAM Investment Management. There are not enough details currently to make a conclusion yet, she added.
There’s no greater joy than having financial freedom and a life free of debts, that’s why I keep posting comments about TreytonAdam who guided me trading online
Ireland Ireland Latest News, Ireland Ireland Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: Moneyweb - 🏆 5. / 77 Read more »