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Markets

Indian and ASEAN tech stocks crater as U.S. rate hikes loom

Investors wake up to losses, likely dampening IPO boom

Shares of Grab, a Singapore-based superapp, have been falling after they plunged 21% in their Dec. 2 debut.

SINGAPORE/MUMBAI -- Anticipated rate hikes by the U.S. Federal Reserve this year have sent the stocks of Indian and Southeast Asian tech companies lower as investors start to reassess their portfolios.

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