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China tech

Baidu fails to make splash with Hong Kong debut

Cooling investor excitement toward China tech stocks also hits Bilibili

Baidu attracted applications from retail investors equal to 112 times the shares on offer, while institutional investors offered to purchase 10 times their allotment.    © Reuters
NARAYANAN SOMASUNDARAM, Nikkei Asia chief banking and financial correspondent | Hong Kong

HONG KONG -- With investor excitement cooling toward Chinese technology stocks, search engine operator Baidu closed flat on its market debut in Hong Kong on Tuesday, while streaming service Bilibili priced its stock sale well below the maximum it had set earlier.

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