Foreign investors sold a record amount of Chinese onshore stocks after the Communist Party’s congress. Photo: AP
Foreign investors sold a record amount of Chinese onshore stocks after the Communist Party’s congress. Photo: AP

Alibaba, Tencent plunge as Hang Seng sinks below 16,000-mark after China’s leadership reshuffle leaves no market reformists on board

  • Xi Jinping consolidated his power in the Communist Party with a third five-year term, while naming key allies to the seven-member Politburo Standing Committee
  • The Chinese leader also called for ‘regulating the mechanism of wealth accumulation’ in reference to private capital and ‘Common Prosperity’ agenda

Foreign investors sold a record amount of Chinese onshore stocks after the Communist Party’s congress. Photo: AP
Foreign investors sold a record amount of Chinese onshore stocks after the Communist Party’s congress. Photo: AP
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