HONG KONG: Forced stock sales are making matters worse for China’s tech hub, where investors are already facing their steepest losses in a decade.
The Shenzhen Composite Index lost 1.9% Tuesday, extending a four-year low. At least two more companies on the gauge -- Jilin Zixin Pharmaceutical Industrial Co and Dalian Zeus Entertainment Group Co - said overnight their shares were at risk of forced liquidation. The sell-off spread to Hong Kong’s equity market, dragging down Shenzhen-based Tencent Holdings Ltd by as much as 3.4%. The drop accounted for about half the losses on the Hang Seng Index.
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