Chinese tech stocks rally as Tencent leads recovery after five-week selloff ...News

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Chinese tech stocks rally as Tencent leads recovery after five-week selloff
Chinese technology stocks rebounded from nearly a 10-month low in Hong Kong on Monday as the market’s dive into bear territory has turned the oversold sector into a bargain buy. The Hang Seng Tech Index gained 4.5%, the biggest jump since July, after a slump of almost 11% recorded last week. The benchmark had fallen for five weeks in row, marking the largest drop since January 2019.  The index that tracks China’s biggest technology stocks lost over 40% since its peak in February amid Beijing’s extended crackdown on the sector. The listed firms reportedly lost nearly $1.5 trillion in value due to the selloff. Meanwhile, the Shanghai Com

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