Business Maverick: Alibaba leads drop in China tech shares as regulatory fears grow

The Alibaba Group dragged Chinese tech shares lower as concerns about a crackdown on the sector resurfaced after company executives were reported to be facing anThe e-commerce giant’s stock slid as much as 5.8%, taking its decline this week to more than 15%. The Hang Seng Tech Index dropped as much as 2.

Executives from Alibaba’s cloud division have been summoned for talks by authorities in Shanghai in connection with the theft of a vast police database, the Wall Street Journal

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Business Maverick: China property crisis is spiralling with homebuyers’ boycottMounting signs of stress this week in an industry that accounts for about a quarter of the world’s second-largest economy have roiled China’s credit markets, dragged down the nation’s bank stocks and pummelled commodities from iron ore to copper.
Source: dailymaverick - 🏆 3. / 84 Read more »

WANDILE SIHLOBO: Wool industry strained by closing doors in ChinaChina restricted imports from the local wool industry after the outbreak of foot-and-mouth disease 🔒
Source: BDliveSA - 🏆 12. / 63 Read more »

Business Maverick: Stocks, US futures pare drop as China tech gains: markets wrapUS Treasury two-year yields, sensitive to imminent Federal Reserve moves, climbed further while longer-maturity rates also went higher. The inversion between two-year and 10-year yields – a potential recession indicator – is the deepest since 2000.
Source: dailymaverick - 🏆 3. / 84 Read more »