Difference between revisions of "China Stocks Dip As Anti-trust Probe Into Alibaba Hits Tech Shares"

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<br>SHANGHAI, Dec 24 (Reuters) - China stocks inched lower on Thursday, dragged by tech shares after Beijing launched an anti-trust probe into Jack Ma's Alibaba Group.<br> <br>** China's blue-chip index CSI300 fell 0.1% to 5,000.02, while the Shanghai Composite Index lost 0.6% to 3,363.11.<br><br>** The tech heavy STAR Market dropped 2.1%, while the CSI TMT Index fell 1.5%. ** Investor confidence in the tech sector was hit by news that China launched an antitrust investigation into Alibaba's e-commerce and fintech empire.<br> <br>** The probe is part of an accelerating crackdown on monopolistic behaviour in China's booming internet space, and  [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html bắc kinh] the latest setback for Alibaba founder Jack Ma.<br> <br>** Spooked investors dumped shares of Alibaba's subsidiaries and affiliates, as well as other internet firms that risk being targeted by Chinese anti-trust regulators.<br> <br>** Shanghai-listed Hundsun Technologies Inc, partly owned by Alibaba, [https://www.rewards-insiders.marriott.com/search.jspa?q=tumbled tumbled] 6.6%.<br><br>E-commerce company Suning.com fell 4%.<br> <br>** "Antitrust (probe) is a strong signal from the government to guide the development focus of those internet tycoons," said Vincent Wang, a Shanghai-based partner specialising in antitrust regulators at Global Law Office.<br> <br>** The healthcare, natural resources and energy sectors rose, while consumer and environmental protection stocks fell.<br> <br>** Sentiment in broader Asia was lifted by news that Britain and the European Union were on the cusp of striking a narrow trade deal on Thursday, which would help avoid shipping and [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html bắc kinh] travel chaos on both sides of the English Channel.<br><br>(Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)<br>
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<br>SHANGHAI, Dec 24 (Reuters) - China stocks [http://www.trainingzone.co.uk/search/inched%20lower inched lower] on Thursday, dragged by tech shares after Beijing launched an anti-trust probe into Jack Ma's Alibaba Group.<br> <br>** China's blue-chip index CSI300 fell 0.1% to 5,000.02, while the Shanghai Composite Index lost 0.6% to 3,363.11.<br><br>** The tech heavy STAR Market dropped 2.1%, while the CSI TMT Index fell 1.5%. ** Investor confidence in the tech sector was hit by news that China launched an antitrust investigation into Alibaba's e-commerce and fintech empire.<br> <br>** The probe is part of an accelerating crackdown on monopolistic behaviour in China's booming internet space, and the latest setback for Alibaba founder Jack Ma.<br> <br>** Spooked investors dumped shares of Alibaba's subsidiaries and  [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh] affiliates, as well as other [http://ms-jd.org/search/results/search&keywords=internet%20firms/ internet firms] that risk being targeted by Chinese anti-trust regulators.<br> <br>** Shanghai-listed Hundsun Technologies Inc, partly owned by Alibaba, tumbled 6.6%.<br><br>E-commerce company Suning.com fell 4%.<br> <br>** "Antitrust (probe) is a strong signal from the government to guide the development focus of those internet tycoons," said Vincent Wang, a Shanghai-based partner specialising in antitrust regulators at Global Law Office.<br> <br>** The healthcare, natural resources and energy sectors rose, [https://www.kynghidongduong.vn/blog/bac-kinh-thanh-pho-hien-dai-va-co-kinh.html du lịch bắc kinh] while consumer and environmental protection stocks fell.<br> <br>** Sentiment in broader Asia was lifted by news that Britain and the European Union were on the cusp of striking a narrow trade deal on Thursday, which would help avoid shipping and travel chaos on both sides of the English Channel.<br><br>(Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)<br>

Revision as of 09:34, 9 January 2021


SHANGHAI, Dec 24 (Reuters) - China stocks inched lower on Thursday, dragged by tech shares after Beijing launched an anti-trust probe into Jack Ma's Alibaba Group.

** China's blue-chip index CSI300 fell 0.1% to 5,000.02, while the Shanghai Composite Index lost 0.6% to 3,363.11.

** The tech heavy STAR Market dropped 2.1%, while the CSI TMT Index fell 1.5%. ** Investor confidence in the tech sector was hit by news that China launched an antitrust investigation into Alibaba's e-commerce and fintech empire.

** The probe is part of an accelerating crackdown on monopolistic behaviour in China's booming internet space, and the latest setback for Alibaba founder Jack Ma.

** Spooked investors dumped shares of Alibaba's subsidiaries and du lịch bắc kinh affiliates, as well as other internet firms that risk being targeted by Chinese anti-trust regulators.

** Shanghai-listed Hundsun Technologies Inc, partly owned by Alibaba, tumbled 6.6%.

E-commerce company Suning.com fell 4%.

** "Antitrust (probe) is a strong signal from the government to guide the development focus of those internet tycoons," said Vincent Wang, a Shanghai-based partner specialising in antitrust regulators at Global Law Office.

** The healthcare, natural resources and energy sectors rose, du lịch bắc kinh while consumer and environmental protection stocks fell.

** Sentiment in broader Asia was lifted by news that Britain and the European Union were on the cusp of striking a narrow trade deal on Thursday, which would help avoid shipping and travel chaos on both sides of the English Channel.

(Reporting by Shanghai Newsroom; Editing by Subhranshu Sahu)