Chinese Tech Stocks Plunge From 3 Year High To Correction In Just 5 Days https://t.co/sIsrnQqYGg
— zerohedge (@zerohedge) March 25, 2025
For those whose heads are still spinning from the furious speed of the recent plunge of the S&P into correction, here’s round two: overnight Chinese tech stocks extended their recent drop, and fell from a three-year high to the brink of a correction in just five sessions, fueled by a lack of positive surprise in earnings and rapidly cooling sentiment. The Hang Seng Tech Index dropped 3.8% on Tuesday, extending its slide from a March 18 high to nearly 10%. And if one goes back to the March 6 high, the Index is already in a 10% correction. The broader MSCI Asia Pacific Index declined as much as 0.4%, reversing a gain of 0.5%, dragged down by Chinese internet stocks Alibaba and Tencent who were among the biggest drags.
https://www.zerohedge.com/markets/chinese-tech-stocks-plunge-3-year-high-correction-just-5-days