China tech selloff accelerates as weak earnings spook investors

Chinese technology shares fell sharply, snapping a three-day rally as earnings from a number of firms failed to meet investor targets.
 

The Hang Seng Tech Index closed 1.9% lower in Hong Kong. The index was weighed down by live streaming giant Kuaishou Technology and electronics component maker AAC Technologies Holdings Inc., which both fell by at least 9.2% after missing estimates.  

The continued drop comes after the government’s shock ban last month of profits at tutoring companies, which triggered a selloff of about $1 trillion in Chinese shares listed globally. Investors are concerned that even with the huge loss in market