Business Standard

China's new crackdown shows $1.5 trillion tech rout not over yet

Hong Kong's Hang Seng Tech Index, which tracks mainland's biggest tech companies, tumbled the most in three weeks

China mobile

Representative Picture.

Jeanny Yu | Bloomberg
Just as a growing number of investors believe China may ease private-sector crackdown to focus on growth, they were reminded on Friday it may be too soon to make that call. 
Within less than an hour, food-delivery giant Meituan sank as much as 18% in its worst loss in nearly seven months after China issued new guidelines asking food-delivery platforms to cut fees they charge restaurants. Hong Kong’s Hang Seng Tech Index, which tracks mainland’s biggest tech companies, also tumbled the most in three weeks. 

The sudden slump shows buying the dip still proves a risky move for some market

Don't miss the most important news and views of the day. Get them on our Telegram channel

First Published: Feb 19 2022 | 9:05 AM IST

Explore News

To read the full story, subscribe to BS Premium now, at just Rs 249/ month.

Key stories on are available only to BS Premium subscribers.

Register to