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Chinese Tech Indices Rebound After Beijing Crackdown: FT

Equity benchmarks tracking the country’s internet sector notch double-digit gains since hitting lows in October


Jack Ma
The story of Jack Ma's fall from official favour helps illustrate how rapidly China has transformed under Xi Jinping. Photo: Reuters

Chinese tech stocks are rising again a year after Beijing launched a crackdown on the sector by blocking the record $37bn initial public offering of Jack Ma’s Ant Group, the Financial Times reported on Wednesday.

Equity benchmarks tracking China’s internet sector have notched double-digit gains since hitting lows in early October.

The Nasdaq Golden Dragon China index has climbed by 18%, while Hong Kong’s Hang Seng Tech index has jumped more than 13%, the FT noted, adding that analysts have become more positive.

Read the full story: Financial Times

 

George Russell

George Russell is a freelance writer and editor based in Hong Kong who has lived in Asia since 1996. His work has been published in the Financial Times, The Wall Street Journal, Bloomberg, New York Post, Variety, Forbes and the South China Morning Post.

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