• News
    • Stocks
    • Banks and Finance
    • Companies
    • Crypto
    • Forex
  • Videos
  • Articles
    • Forex CRM
    • Crypto Payments
    • Copy Trading
    • Crypto Exchange Business
    • Forex Business
    • Fintech
    • Liquidity
  • Liquidity Providers List
  • Crypto Payment Providers

Dark Theme

Asian Tech Rout Worsens as China Index Closes Near Record Low

Oct 5, 2021

Asian Tech Rout Worsens as China Index Closes Near Record Low

On Tuesday, investor worries of rising interest rates fueled a global selloff in technology equities, with a Hong Kong benchmark tracking Chinese technology companies ending near a record low. The Hang Seng Technology Index, which began trading in July of last year, lost 0.3 percent after recovering from initial losses of up to 2.5 percent. The index, which includes Tencent Holdings Ltd. and Alibaba Group Holding Ltd., is set to fall for the fourth week in a row.

Increased regulatory monitoring and a rapid jump in rates sparked investor worries of a bubble, and megacap technology firms that soared through the epidemic have fallen. Chinese firms have been struck particularly hard, as they are already caught up in Beijing's regulatory crusade.

The so-called Faamg group lost $238 billion in market value overnight, and Amazon.com Inc. has lost money for the year. Hong Kong's IT index is already down roughly 46% from its February high, with members losing $1.4 trillion in market value.

Bloomberg Intelligence analyst Matthew Kanterman said, "It's a perfect storm of challenges right now." “In the short term, a convergence of issues such as ongoing regulatory hurdles, increasing interest rates, and China property contagion worries will almost certainly continue to weigh on China's IT sector.”

Bilibili Inc., an online entertainment platform, fell 2.6 percent in Hong Kong, making it one among the worst performers on the index, while Alibaba Group fell 1.2 percent. Both equities are currently trading at all-time lows. Tencent, a market leader, was down 1.5 percent.

Other areas of Asia were affected by the selloff. Z Holdings Corp., the SoftBank Group Corp.-backed search engine operator, finished 5.6 percent lower, the highest in five months, while Naver Corp., dubbed "South Korea's Google," finished 3 percent lower.

In a radio interview with Bloomberg, Christina Woon, an investment manager at abrdn, said that investors are concerned about the impact of Chinese inflation and restrictions on the industry. “People are taking a bit more of a risk-off mentality here, and that's probably going to continue” until officials relieve some of the constraints, she added.

China's IT industry has been shaken as the government tightens regulations on private companies in order to achieve President Xi Jinping's vision of "shared prosperity." The fall has been exacerbated by fears of worldwide contagion from the probable collapse of leveraged property giant China Evergrande Group.

Worries over the financial center's benchmark Hang Seng Index pushed it into a bear market in August, dethroning Hong Kong as Asia's No. 2 market after Japan. The Hang Seng China Enterprises Index is the worst-performing major stock index in the world this year.

While China tech stock values have fallen, “it's hard to envision trends reversing in the short term without a catalyst or resolution to the numerous headwinds,” Kanterman said.

Subscribe Our Newsletter

Instagram is Testing an AI Face-Scanning Tool That Can Verify Your Age

Instagram is Testing an AI Face-Scanning Tool That Can Verify Your Age

Instagram requires three of the user's mutual followers to verify their age as part of the social vouching method. They have three days to react, and the followers must be at least 18 years old. Users can still prove their age by uploading images of their ID cards.

Companies
PayPal Is Pushing Further Into Crypto as Payments Competition Heats Up

PayPal Is Pushing Further Into Crypto as Payments Competition Heats Up

PayPal (PYPL) said on Tuesday that its app will now accept crypto transfers to other digital wallets and exchanges, making it significantly more useful for peer-to-peer transfers and transactions through other brokerages.

Crypto
Liquidity Provider

What Is Liquidity?
Let's find out what Liquidity is, the Importance of Market Liquidity, What Are the Most Liquid Markets, and who provides Liquidity.

discover
How to Identify Liquidity?

Liquidity Provider

Liquidity Provider

How to Identify Liquidity?

Let's find out how to identify Forex Liquidity, how to identify the liquidity of cryptocurrencies, and how to pick the best LP.

Liquidity

Contact Us

Contact the Liquidity Provider
for any questions and advertising inquiries b2broker

    Please fill out this contact form to get in touch with us

    / 3000

    By clicking “Get in touch” button, you agree to the privacy policy

    Oliver

    How to Integrate Crypto Payment Gateway to Your Business?

    https://liquidity-provider.com/app/uploads/2022/07/how-to-integrate-crypto-payment-gateway-to-your-business-300x203.png

    Oliver

    How to Accept Crypto Payments as a Business

    https://liquidity-provider.com/app/uploads/2022/06/oblozhka-300x203.png

    Oliver

    What is a Crypto Payment Gateway?

    https://liquidity-provider.com/app/uploads/2022/06/shapka1-1-300x203.png

    Liquidity Provider

    Why Do Brokers Need PAMM Accounts?

    https://liquidity-provider.com/app/uploads/2022/05/why-do-brokers-need-pamm-accounts-300x203.png

    Regi Publico

    The Importance of Liquidity in Financial Planning

    https://liquidity-provider.com/app/uploads/2022/04/untitled-design-2-300x203.png

    Liquidity Provider

    What Are the Advantages of Paying with Bitcoin?

    https://liquidity-provider.com/app/uploads/2022/04/dizajn-bez-nazvaniya-3-1-300x203.png

    Liquidity Provider

    How to Promote PAMM/MAM & Copy Trading Service as a Broker

    https://liquidity-provider.com/app/uploads/2022/04/untitled-design-300x203.png

    Liquidity Provider

    How Do Crypto Payments Work?

    https://liquidity-provider.com/app/uploads/2022/03/untitled-design-10-300x203.png

    Liquidity Provider

    Top 6 Forex License Providers

    https://liquidity-provider.com/app/uploads/2022/03/frame-59318-300x203.png

    Liquidity Provider

    How to Get a FOREX License

    https://liquidity-provider.com/app/uploads/2022/03/untitled-design-1-300x203.png

    Liquidity Provider

    Top 5 Forex CRM Solutions for 2022

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-3-300x203.png

    Liquidity Provider

    5 FinTech Trends for 2022

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-2-300x203.png

    Liquidity Provider

    5 Tips for FinTech Startups

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-1-300x203.png

    Liquidity Provider

    What is NFT?

    https://liquidity-provider.com/app/uploads/2022/02/untitled-design-300x203.png

    Liquidity Provider

    What is Initial DEX Offering (IDO)?

    https://liquidity-provider.com/app/uploads/2022/01/untitled-design-1-1-300x203.png

    Liquidity Provider

    How Liquidity Provider Tokens Work

    https://liquidity-provider.com/app/uploads/2022/01/frame-59320-2-300x203.png

    Liquidity Provider

    How Does the Cryptocurrency Exchange Business Work?

    https://liquidity-provider.com/app/uploads/2021/12/frame-59315-300x203.png

    Liquidity Provider

    How Does The Forex Brokerage Business Work

    https://liquidity-provider.com/app/uploads/2021/12/frame-59303-3-300x203.png

    Liquidity Provider

    Top 10 White Label Exchange Solutions in 2022

    https://liquidity-provider.com/app/uploads/2021/12/frame-611012-300x203.png

    Liquidity Provider

    What is Liquidity Mining?

    https://liquidity-provider.com/app/uploads/2021/12/untitled-design-4-300x203.png

    Liquidity Provider

    What is Yield Farming?

    https://liquidity-provider.com/app/uploads/2021/12/untitled-design-300x203.png

    Liquidity Provider

    What is the Difference Between Centralized and Decentralized Exchange?

    https://liquidity-provider.com/app/uploads/2021/11/untitled-design-17-300x203.png

    Liquidity Provider

    What You Should Know About Energy Liquidity?

    https://liquidity-provider.com/app/uploads/2021/11/frame-59309-4-300x203.png

    Liquidity Provider

    What is Prime of Prime Liquidity?

    https://liquidity-provider.com/app/uploads/2021/11/frame-59319-3-300x203.png
    • News
      • Stocks
      • Banks and Finance
      • Companies
      • Crypto
      • Forex
    • Articles
      • Forex CRM
      • Crypto Payments
      • Copy Trading
      • Crypto Exchange Business
      • Forex Business
      • Fintech
      • Liquidity
    • More
      • Videos
      • Liquidity Providers List
      • Crypto Payment Providers
    [email protected]

    © 2022 Liquidity Provider. All Rights Reserved

    Privacy Policy Cookie Policy