Investor worries over the potential for a fresh wave of regulatory crackdowns by Beijing set off steep drops in Chinese tech shares on Tuesday.
, as the Japanese tech conglomerate invests in unlisted startups through its second Vision Fund and repurchases its own shares.also tumbled further, shedding as much as 3% and extending Monday's fall after an online post that suggested the Chinese social media and gaming giant could face another regulatory crackdown was widely circulated.
While the post was later deleted and Tencent's head of public relations Zhang Jun on his personal WeChat feed called it a rumour, Andy Maynard, head of equities at China Renaissance in Hong Kong said the incident had nonetheless unnerved investors. "For the first time in a long time they've come out and actually made a statement on it ... there's no smoke without fire," he said.
"Everybody's learned that when it comes to the regulatory environment in China over the last three quarters, you've got to expect something."Reporting by Andrew Galbraith and Brenda Goh; Editing by Kenneth Maxwell
France Dernières Nouvelles, France Actualités
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