Tech Brief (Jul. 21): Is Mega Chip IPO to Blame for China’s Tech Rout?
00:00/00:00
Listen to this article
1x
Subscribe now
Listen to the full version
Listen to the full version
Is mega chip IPO to blame for China’s tech rout?
A multibillion-dollar IPO by Chinese memory chipmaker CXMT Corp. is taking the blame for a severe sell-off in domestic tech equities, spotlighting the market’s vulnerability to liquidity squeezes. As retail investors were required to cough up 33.3 billion yuan ($4.9 billion) to settle CXMT’s IPO share allocations Monday, tech hardware sectors suffered more than 23 billion yuan in net outflows.
Register to read this article for free.
Register
Unlock exclusive discounts with a Caixin group subscription — ideal for teams and organizations.
Save an extra $50. Introductory offer for new readers. Subscribe now.
- RELATED
Share this article
Open WeChat and scan the QR code
Sign in with Google
Sign in with Facebook
Sign in with 财新