News > Chinese technology stocks witness big drop

Chinese technology stocks witness big drop

India News | 12/03/2021 11:08 PM | Click to read full article

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.