Investing.com UK - Financial Markets Worldwide
🎁 💸 Warren Buffett's Top Picks Are Up +49.1%. Copy Them to Your Watchlist – For FreeCopy Portfolio

China Tech Stocks Rebound on Dip Buying After Historic Rout

Published 16/03/2022, 05:20
© Bloomberg. An electronic screen displays the Hang Seng Index, top, and Hang Seng China Enterprises Index (HSCEI) in Hong Kong, China, on Tuesday, March 15, 2022. Chinese stocks suffered another deep selloff on Tuesday as concerns about the country’s ties with Russia and persistent regulatory pressure sent shares on a downward spiral. Photographer: Paul Yeung/Bloomberg
HK50
-
JPM
-
CHNA
-
GDS
-
BILI
-

(Bloomberg) -- Chinese tech stocks rebounded after a steep selloff over the past three sessions, as some investors spotted buying opportunities even as geopolitical and regulatory risks abound. 

The Hang Seng Tech Index climbed 6.3% in early trading on Wednesday, erasing some of the 22% decline since late last week that saw the gauge touch new lows every day. Bilibili (NASDAQ:BILI) Inc. and GDS Holdings (NASDAQ:GDS) Ltd. were the best performers, gaining around 15% each. The move tracks an advance overnight in its U.S.-listed counterparts. 

Investors are weighing cheap valuations following the historic rout against poor sentiment in the sector as regulatory risks linger, including a possible U.S. delisting of Chinese firms. Concerns related to Beijing’s ties with Russia and a lockdown in China’s tech hub Shenzhen are also adding to worries.

Five Charts Showing the Brutal Two-Day Selloff in China Stocks

JPMorgan Chase & Co. (NYSE:JPM) earlier this week labeled some Chinese internet names as “uninvestable.” 

©2022 Bloomberg L.P.

© Bloomberg. An electronic screen displays the Hang Seng Index, top, and Hang Seng China Enterprises Index (HSCEI) in Hong Kong, China, on Tuesday, March 15, 2022. Chinese stocks suffered another deep selloff on Tuesday as concerns about the country’s ties with Russia and persistent regulatory pressure sent shares on a downward spiral. Photographer: Paul Yeung/Bloomberg

Latest comments

Install Our App
Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.