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China s Wild Summer of Stock Market Shocks: A Timeline
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LONDON, July 27 (Reuters) – International investors were feeling bruised and uncertain on Tuesday as a third day of heavy selling hammered China’s top tech stocks and began to seep into currency and debt markets.
China’s rise in global indexes in recent decades means money managers are more exposed than ever as Beijing seeks to reduce the dominance of some of its tech, property, ride-hailing and even private education firms.
Tuesday’s falls included a 9% plunge in internet giant Tencent, its worst in a decade, as its WeChat social network suspended user registrations while it underwent an upgrade “to align with all relevant laws and regulations”. read more
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LONDON (Reuters) - International investors were feeling bruised and uncertain on Tuesday as a third day of heavy selling hammered China’s top tech stocks and began to seep into currency and debt markets.
FILE PHOTO: Chinese Yuan banknotes are seen in this illustration taken February 10, 2020. REUTERS/Dado Ruvic/Illustration/File Photo
China’s rise in global indexes in recent decades means money managers are more exposed than ever as Beijing seeks to reduce the dominance of some of its tech, property, ride-hailing and even private education firms.
Tuesday’s falls included a 9% plunge in internet giant Tencent, its worst in a decade, as its WeChat social network suspended user registrations while it underwent an upgrade “to align with all relevant laws and regulations”.
After Smothering Fintech And Consumer Tech, China Announces Crackdown On Edutech; Over $5 8 Billions Wiped Off From Education Stocks
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