The Digital Source For China's Tech Innovation Since 2000

China Tech Buzz

Global News Impacting Chinese Tech

TikTok rival Kuaishou drops 13% as CEO warns of more regulation, bringing 3-day Chinese tech rally to an abrupt end | Business Insider India

News Snapshot:

Reuters/Florence Lo/Illustration Chinese TikTok competitor Kuaishou lost as much as 12.5% on Thursday. The slump dragged down the Hang Sang Tech index, which had risen 9% over the previous three days. China's cyber regulator has fined Kuaishou and other internet companies. Chinese TikTok competitor Kuaishou lost as much as 12.5% on Thursday after the company reported mixed earnings and warned that Beijing's regulatory onslaught would pinch its revenues. The firm's Hong Kong-listed shares fell as low as 67.80 Hong Kong dollars from the previous day's closing price of HK$77.50. The slump dragged down the Hang Sang Tech index, which had…

Other China Tech Buzz: