The Chinese government has launched a crackdown on the dominance of technology giants. Photo: Shutterstock The Chinese government has launched a crackdown on the dominance of technology giants. Photo: Shutterstock
The Chinese government has launched a crackdown on the dominance of technology giants. Photo: Shutterstock
Hang Seng Index

Shares of Alibaba, Tencent, Meituan take a hammering in Hong Kong as Beijing clips Ant’s wings, cracks down on monopolies

  • The Hang Seng Index declined 0.3 per cent on Monday, as investors watched for signals from Beijing about moves to further rein in the tech sector, and Covid-19 cases flared
  • E-commerce giant Alibaba Group plunged 8 per cent even as it increased share buy-backs, Meituan was down 6.9 per cent and Tencent dived 6.7 per cent

Topic |   Hang Seng Index
The Chinese government has launched a crackdown on the dominance of technology giants. Photo: Shutterstock The Chinese government has launched a crackdown on the dominance of technology giants. Photo: Shutterstock
The Chinese government has launched a crackdown on the dominance of technology giants. Photo: Shutterstock
READ FULL ARTICLE