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Tencent Holdings Ltd dived as much as 10% on Aug 3 after an offshoot of China’s official news agency decried the “spiritual opium” and “electronic drugs” of games, stoking fears Beijing will next set its sights on online entertainment.
KUALA LUMPUR: The local stock market ended July on a disappointing note as selling pressure picked up pace in late Friday trade amid a weak economic outlook while key Asian markets also closed lower.
Education technology firms are scrambling to restructure and adjust to new regulation for the industry in China, after the government launched a sweeping crackdown.
HONG KONG: Chinese investors are turning against the nation’s technology giants, removing a pillar of support that helped the sector through previous market routs.
HONG KONG: China’s benchmark equity index fluctuated on the brink of a bear market yesterday despite efforts by state media to bolster investor confidence shaken by concerns over Beijing’s escalating regulatory crackdown.
BEIJING: China’s state media sought to soothe investor nerves amid a stock rout that has pushed the nation’s benchmark equity index to the brink of a bear market, stressing there was no onshore systemic risk.
Tencent Holdings Ltd said it was suspending new user registrations for its WeChat services, adding to uncertainty for the technology sector that’s in the midst of a two-day selloff.
PETALING JAYA: AmInvest has launched a new fund to allow sophisticated investors gain exposure to Chinese technology giants listed in Hong Kong.
China moves to protect food delivery drivers from digital exploitation, knocking stocks such as services giant Meituan
The policy guidelines come as China ramps up a campaign to rein in Big Tech, forcing the sector to put greater emphasis on consumer and worker rights. The guidelines are designed to protect basic labour rights for riders, including a base income, work safety, food safety, a decent working environment.
China’s tech giants go on hiring spree for fresh graduates despite Beijing’s crackdown on the sector
Alibaba, ByteDance, JD.com and Meituan are hiring thousands of new graduates as competition for new talent heats up. Amid a historic crackdown on China’s tech sector, companies are also working to eliminate 996 work culture and answer Beijing’s call to boost employment.