(Bloomberg) — The relentless selloff in Chinese technology stocks continued in Hong Kong on Monday as a lockdown in Shenzhen, a key sector hub, added to investor angst over geopolitical and regulatory risks.
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The Hang Seng Tech Index slumped as much as 6.5% in early trade, with the sector again at the forefront of losses in Hong Kong and China stocks. The Golden Dragon Index, which tracks American depository receipts of Chinese firms, plunged 10% on two consecutive days last week — something that’s never happened before in its 22-year history.
The tumble follows a spate of events that’s spooked investors, reminding them of regulatory uncertainties from both China and the U.S. The U.S. Securities and Exchange Commission last week named its first batch of Chinese stocks as part of a crackdown on foreign firms that refuse to open their books to U.S….
