News > Chinese technology stocks witness big drop

Chinese technology stocks witness big drop

China's technology stocks have fallen harder than its US peers, as an index of the largest technology stocks listed in Hong Kong showed a drop of 26 percent in less than three weeks, reflecting how a sudden turn in the market has resulted in significant losses for investors who piled into popular stocks earlier this year.

The Hang Seng Tech Index -- which tracks 30 companies including Chinese internet giants Tencent Holdings Ltd, Alibaba Group Holding Ltd, and smartphone maker Xiaomi Corp -- closed on Tuesday at its lowest level in 2021.