(Bloomberg) — Chinese technology shares tumbled for a second day after Beijing clamped down on the internet industry, wiping out more than $200 billion of value.The Hang Seng Tech Index slumped 5.3% on Wednesday in Hong Kong, taking its two-day loss to almost 10%. Shares of Alibaba Group Holding Ltd., Tencent Holdings Ltd., JD.com Inc., Meituan and Xiaomi Corp. sank at least 8% over two days after the Communist Party unveiled regulations to root out monopolistic practices in the internet industry.Tech is the latest sector to be targeted by Beijing after new curbs on financial firms that triggered the shock …read more
Source:: Yahoo Finance
