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China to take softer touch on tech giants? Stock prices say no

Hang Seng Tech Index sinks 10% this month as crackdown worries persist

Alibaba Group Holding, a prominent target of Beijing's clampdown on the tech sector, fell nearly 7% on Friday.   © Reuters

HONG KONG -- Chinese tech stocks continued to slide this week as skepticism about Beijing easing up on its clampdown on the industry, on top of persistent concern about the risk of U.S. delistings, chilled investor sentiment.

The Hang Seng Tech Index, comprising 30 major technology companies including Alibaba Group Holding and Tencent Holdings, declined for a fourth straight trading day Friday, sinking more than 5% for a total loss of nearly 10% this month alone. The index slumped 25% between the end of 2021 and Thursday, more than the Nasdaq's 21% fall over that period.

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