Chinese tech stocks slump after Beijing summons 34 companies in sign of heightened regulatory oversight

Source: South China Morning PostChinese technology stocks trading in Hong Kong tumbled on speculation Beijing will double down on its scrutiny of the industry after slapping a record fine on Alibaba Group Holding.The Hang Seng Tech Index slumped by as much as 1.7 per cent in afternoon trading on Tuesday on news that Beijing had summoned 34 big internet companies for a meeting. These companies, including Baidu, JD.com and Meituan, have been asked to start self-checks and to rectify anticompetition actions, according to the…Read More

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