The decline tracks Friday’s 9.1% plunge in the Nasdaq Golden Dragon China Index, which was the biggest decline since 2008, on worries that Didi Global Inc’s delisting would put pressure on other Chinese firms to follow suit.
China tech shares tumbled on Monday, with a key gauge closing at its lowest level since launch last year as concerns mount over how much more pain Beijing is willing to inflict on the sector.
The Hang Seng Tech Index closed down 3.3%, its biggest decline in nearly two months, to the lowest level since before its July 2020 inception. Alibaba Group Holding and JD.com Inc were the biggest losers, each sinking at least 4.9%. Both companies are also traded in the US.
