China Tech Stocks Face Renewed Selling as Growth Worries Mount

Pedestrians along the Bund in front of buildings in the Lujiazui Financial District across the Huangpu River in Shanghai, China, on Friday, Feb. 27, 2022. Photo: Bloomberg

(Bloomberg) — China’s technology stocks slumped, tracking a tumble in their U.S.-listed peers, as growth worries from the nation’s zero-Covid policies and lack of concrete measures to support the sector triggered further selling.

The Hang Seng Tech Index slid as much as 4.5% early Friday, declining for the fourth straight session. The losing streak threatens to erase last week’s rally spurred by the nation’s top leaders promising to loosen a regulatory crackdown on the sector.