Chinese technology stocks are on track for their worst week in a year as concerns over forced delistings from Wall Street and new difficulties for groups planning to sell shares in Hong Kong spur heavy selling by global investors.
The Hang Seng Tech index was down 5.6 per cent on Friday in afternoon trading, taking the tracker of the city’s largest Chinese tech stocks more than 11 per cent lower over the past five sessions and putting it on track for the worst week since February 2022.
The falls for groups, including Tencent and Alibaba, mark the return of regulatory overhang that dogged some of China’s biggest and most profitable companies last year.
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