Downward trend: People walk past the Exchange Square in Hong Kong. The Hang Seng Tech Index has dropped about 30% this year and in March touched a three-year low. — AFP
IN recent days, I’ve spoken to about half a dozen investors in Hong Kong and New York who blame the United States Securities and Exchange Commission (SEC) for the recent selloff in China’s technology companies.
They say they’ve spotted a pattern: provisional delisting announcements by the Washington regulator have tended to precede a drop in the broader market.
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