Panic Selling Grips China Tech Stocks Again as Concerns Pile Up

(Bloomberg) — The relentless selloff in Chinese technology stocks continued in Hong Kong on Monday as a lockdown in Shenzhen, a key sector hub, added to investor angst over geopolitical and regulatory risks.

The Hang Seng Tech Index slumped more than 8% during morning trade, with the sector again at the forefront of losses in Hong Kong and Chinese mainland stocks. The Golden Dragon Index, which tracks American depository receipts of Chinese firms, plunged 10% on two consecutive days last week — something that’s never happened before in its 22-year history.