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China tech stocks tumble on fresh Alibaba scrutiny

News Snapshot:

Investors in China’s tech shares just got another reminder that regulatory scrutiny into the sector is unlikely to go away any time soon, despite a concerted effort by authorities to shore up a flagging economy. Alibaba Group Holding Ltd’s (????) stock yesterday tumbled as much as 6 percent after a report that company executives had been questioned in relation to the country’s largest known cybersecurity breach. That also dragged the broader Hang Seng Tech Index lower by as much as 3.5 percent. The event is the latest indicator to investors that risks abound when it comes to Chinese tech stocks…

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