Two Chinese companies, Tencent Holdings and Alibaba Group, have lost more than $1 trillion in combined market value since the start of the Hong Kong stock sale. 13 months ago.
According to Arabia Net, these two technology forces account for more than half of the $2.1 trillion total losses of the Hang Seng Tech Index companies, since a record high in February 2021, according to data compiled by Bloomberg.
Tech stocks have bore the brunt of China's slide over the past year as Beijing expands its regulatory crackdown on technology companies.
The Hang Seng tech index has fallen 65% since its peak due to China's moves to limit the sector's profitability.
Stocks were also affected by fears of weak revenue growth amid an economic slowdown and the possibility of Chinese companies being forced to delist from US stock exchanges as global geopolitical tensions escalated further straining relations. between the two countries.
