A 40% slump in shares over the past year, the winding down of a hallmark investigation and vows of support for the sector should offer a solid buy signal for China’s tech giants. But investors aren’t so sure yet. As the Hang Seng Tech Index approaches the second anniversary of its inception next week, traders say they remain wary about ploughing money into companies in the benchmark. Their angst centres on the year-long government crackdown, which they see persisting even if the worst of the punitive measures may be over. The uncertainty is highlighting just how hard it remains for investors to navigate the volatility in shares of Alibaba Group Holding Ltd, Tencent Holdings Ltd and others.
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