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Tencent leads China sell-off amid crackdown fears

February 22, 2022
Source: taipeitimes.com taipeitimes.com
News Snapshot:
Chinese technology shares on Friday and yesterday had their worst two-day drop since July last year due to renewed fears Beijing might roll out more restrictions for private enterprise. Tencent Holdings Ltd (??) shares sank 5.2 percent yesterday, pummeled by speculation about an unspecified, impending crackdown on China’s largest social media and gaming firm that company spokesman Zhang Jun (??) later denied. Traders pointed to everything from warnings from regulators over the weekend about scams in the “metaverse” — a virtual reality-based social media concept — to talk about yet more curbs on the gaming industry. Zhang said that the...
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