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SHANGHAI (Reuters) - Shares of Chinese food delivery giant Meituan slumped further on Tuesday in a sell-off precipated by the social media posting by its chairman of an ancient poem that was perceived by some as criticising the government and President Xi Jinping.
The Hang Seng Tech Index sank as much as 4.5%, extending its tumble from a February high to about 30%.
BEIJING: The massive selloff in US-listed shares of Chinese technology companies isn’t linked to their fundamentals and makes for a bigger buying opportunity, according to Citigroup Inc.
HONG KONG: Bilibili Inc, which is backed by Alibaba Group, tumbled as much as 6.8% in its Hong Kong stock debut on Monday as analysts said a U.S. regulatory crackdown on listed foreign firms hit enthusiasm for the Chinese online video site.
WASHINGTON/HONG KONG: Shares in dual-listed Chinese companies fell sharply on Thursday in Asia after the U.S. securities regulator adopted measures that would kick foreign companies off American stock exchanges if they do not comply with U.S. auditing standards.
NEW YORK: Wall Street rallied on Monday as technology stocks rebounded from a recent selloff sparked by surging bond yields and Tesla jumped after a fund run by an influential investor in the electric-car maker said its shares could approach US$3,000 by 2025.
LONDON (Reuters) - Volkswagen and BMW's plans to grab market share in the fast-growing electric car market and challenge Tesla could shift the dial for their cheaply priced shares.
SHANGHAI: Hong Kong stocks ended marginally higher on Monday, underpinned by heavyweight financial firms, after China posted better than expected factory activity data.
Digitalisation and automation likely to drive tech boom for the next five years