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Global News Impacting Chinese Tech

Hong Kong Internet Gains As China Looks To Reassure Investors

News Snapshot:

Key News Asia was a sea of green following Powell’s press conference with Hong Kong gaining, which followed the gains yesterday in US-listed Chinese stocks. The rally in Hong Kong dual-listed Chinese internet stocks exceeded yesterday’s US rally, which could lead to further gains in the US shares today. CSRC Vice Chairman Fang Xinghai held a conference call with foreign investment banks to reassure them recent regulation action on afterschool tutoring (AST) space won’t be applied broadly. The move makes sense as the regulation would threaten foreign capital flows but also the real economy as companies might hesitate to invest….

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