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China’s tech clampdown wipes $260bn off share values

China’s tech clampdown wipes $260bn off share values
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Chinese technology giants from Alibaba Group Holding Ltd. to Tencent Holdings Ltd shed almost $260 billion of market value over two days of frantic selling, as investors scrambled to assess the fallout from Beijing’s broadest attempt to rein in its most powerful private-sector firms.

Technology shares tumbled for a second day after Beijing issued regulations designed to curb the growing influence of internet-sector leaders including…

To read more: https://www.aljazeera.com/economy/2020/11/11/chinas-tech-clampdown-wipes-260bn-off-share-values

SOURCE: AL JAZEERA

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