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Alibaba, Tencent and Co: China continues to put pressure on its giants

News Snapshot:

While US tech stocks have plummeted since the beginning of the year, Alibaba and Tencent are holding up much better – at a low level. On Friday, among other things, Alibaba’s price dropped more than four percent at times. In line with this, there were several new messages from China. The Ant Group, in which Alibaba holds a third stake, has been linked to a corruption scandal. The group is said to have received land particularly cheaply after taking a stake in two mobile phone companies from the brother of a party secretary. In addition, China’s leadership has announced that…

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