China’s tech crackdown and growth worries hit markets – business live | Business
Photograph: Florence Lo/Reuters
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China’s crackdown on technology companies is hitting the markets again today, amid concerns that the rebound in global growth may be fading.
Stock markets across Asia have fallen to a six-week low after Beijing sent shockwaves through global financial circles with plans to tighten restrictions on overseas listings of Chinese companies, as it puts its tech giants under much tighter scrutiny.
China’s CSI 300 index has fallen over 1%, while Hong Kong’s Hang Seng has tumbled 2.75%, helping to pull the MSCI’s index of Asia shares outside Japan down 1% to its lowest since late May.
An index of tech shares in Hong Kong (where…