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HONG KONG: Asia's stocks fell to fresh seven-month troughs on Tuesday, led by a third straight session of heavy selling of Chinese internet giants, while bond and currency markets clung to tight ranges ahead of the Federal Reserve policy meeting.
KUALA LUMPUR: AmInvest launched its new Hong Kong Tech Index Fund that will enable investors to catch the growth underpinned by the fast-growing technology sector and the increasing number of technology companies listed in Hong Kong.
The six-month campaign will address the ‘tough problems’ of China’s Internet industry, said the Ministry of Industry and Information Technology (MIIT). Data security and infringement of user rights among problems the MIIT pledges to address.
HONG KONG: An index launched a year ago to give investors greater exposure to China’s internet giants is now the world’s worst-performing major technology gauge.
Passengers trapped in subway carriages in Zhengzhou watched in despair as water levels neared head heightSome struggled to reach rescuers trying to find them, while others sent what they feared were final messages to loved ones
BEIJING (China Daily/ANN): People in the flood-ravaged province of Henan have suffered great inconvenience, economic losses and even tragedy in recent days, but they have been able to display courage and help others in a time of peril.
Forbes China names Alibaba founder Jack Ma country’s most generous entrepreneur in 2020, as tech giants top charity list
Jack Ma donated nearly US$500mil in 2020, a year that ended with his companies Alibaba and Ant Group facing mounting regulatory pressure from Beijing. Tencent founder Pony Ma and ByteDance founder Zhang Yiming also made the top five, with China’s tech industry becoming the most charitable for the year.
The rush of donations comes as China’s tech companies are under scrutiny for putting profit ahead of social responsibility. Video clips of muddy water washing away cars and people on the streets of Zhengzhou, a city of 10 million, went viral on Chinese social media on Wednesday.
Technology stocks have largely been shielded from Beijing’s clampdown, as they are engaged in businesses that are underpinned by policy supportCut in banks’ reserve requirement ratio may further aid Chinese technology stocks trading onshore, according to brokerages