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Chinese Technology Stocks Have Fallen Harder Than U S Peers

Provided by Dow Jones By Xie Yu and Joanne Chiu U.S. technology stocks have slipped into correction territory. Chinese technology stocks have fallen even more. An index of the largest technology stocks listed in Hong Kong has dropped 26% in less than three weeks, reflecting how a sudden turn in the market has snowballed into 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. and Alibaba Group Holding Ltd., and smartphone maker Xiaomi Corp. closed Tuesday at its lowest level in 2021 and is now in bear-market territory, defined as a drop of at least 20% from a recent high.

Price and policy fears drive Chinese investors into cloistered stocks

5 Min Read SHANGHAI (Reuters) - Worries about the frothiness of China’s stock market and steps authorities might take to rein it in are forcing investors out of popular technology and consumer sectors and into small-cap shares and other sequestered stocks in sectors such as banking. FILE PHOTO: A man wearing a protective mask is seen inside the Shanghai Stock Exchange building, as the country is hit by a new coronavirus outbreak, at the Pudong financial district in Shanghai, China February 28, 2020. REUTERS/Aly Song That churn has seen investors rush out of richly valued market darlings such as Tencent Holdings Ltd and Meituan. Shanghai-listed spirit maker Kweichou Moutai Co Ltd, a popular bet on China’s rising consumerism, has plunged 25% from its Feb. 18 high.

Coupang s $3 6b blockbuster IPO proves why US is better pick for tech outings

Photo: Reuters March 8, 2021 South Korean e-commerce giant Coupang Inc.’s initial public offering is on track to be the largest listing by a Korean company in a decade. And, like most of the major tech offerings these days, it’s happening in New York. There are three big reasons that explain why the U.S. is a better pick for the e-tailer backed by SoftBank Group Corp.’s Masayoshi Son. Perhaps most significantly, New York offers a considerable valuation premium. It also has a deeper, more liquid market, and allows uneven voting rights that would benefit Coupang’s founder, Harvard Business School drop-out Bom Kim.

(CPNG), SOFTBANK CORP ORD (SFTBF) - Coupang Shows US Is Most Lucrative Market For Tech IPOs : Bloomberg

(CPNG), SOFTBANK CORP ORD (SFTBF) - Coupang Shows US Is Most Lucrative Market For Tech IPOs : Bloomberg
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