Hong Kong's Hang Seng Tech Index, which tracks mainland's biggest tech companies, tumbled the most in three weeks
The company had invested heavily to expand business and explore more materials in the nickel sector as the resource is gaining traction amid a global new energy boom
The regulatory threats mean companies with a total market cap of almost $200 bn currently listed only in the U.S. may need to seek a return to Hong Kong or the mainland soon, Bloomberg analysts said
Uncertainty over firm's over $300-bn debt load continues to plague investors
Xi on Thursday outlined plans for a Beijing Exchange to allow "innovative small- and medium-sized" companies to raise capital.
The Hang Seng Tech Index closed 1.9% lower in Hong Kong.
Beijing's bold moves to rein in nation's powerful tech firms such as Jack Ma's Ant Group Co., Didi Global Inc. have sent global investors fleeing on concerns over China's tighter grips on data
Chinese electric vehicle maker Xpeng Inc will raise $1.8 billion by pricing its shares at HK$165 each as part of its Hong Kong dual primary listing
Two days ago the Security Bureau froze nearly HKD 500 million of the jailed media tycoon assets
In 2019, the information technology sector overtook financials as the index's largest industry by market value
The proposal comes as a wave of Chinese megacaps choose the financial hub as a preferred venue to sell shares
SMIC's shares fell as much as 7.9% to HK$17.12 ($2.21), the lowest since May 29, and were last down 6.7%.
The size of the deal was increased by 25% during the institutional bookbuild overnight on high demand from investors
Of the two venues, the company prefers Hong Kong, it says
The HKD is pegged in a narrow range of 7.75-7.85 to the US dollar. The Hong Kong Monetary Authority (HKMA) buys and sells the currency at either limit to maintain the range
Among the worst-hit sectors on global trading floors are firms linked to travel and tourism, as big-spending Chinese tourists stay at home with Beijing clamping down on people's movement.
Asian businesses now have access to large, new capital
While Hong Kong isn't new to sudden stock slumps, the fresh wave of declines is putting the spotlight on corporate governance
Sentiment in Hong Kong's primary market turned around as AB InBev revived its IPO plan for Budweiser Brewing Company APAC Ltd. last month
The S&P/Hong Kong GEM Index has declined 2.2% this year, while the main exchange's Hang Seng Index has climbed 9.7%