From Alibaba Group Holding Ltd to Tencent Holdings Ltd, China’s largest companies are once again at the center of a market storm, spurred by speculation that Beijing is readying another assault on the world’s biggest Internet arena.
Three of China’s most valuable businesses Alibaba, Tencent and Meituan shed more than US$100 billion in the span of three turbulent days last week. It is a remarkable reversal from just a week earlier, as investors such as Berkshire Hathaway Inc chairman Charlie Munger spotted bargains among China Tech Inc after a US$1.5 trillion sell-off last year.
Macquarie Group Ltd issued a