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Tech Selloff Hits Hong Kong As Tencent Tumbles Out Of Half-Trillion Club
As expected, Wednesday's tech selloff on Wall Street spread to Asia, denting the high-flying Hang Seng and sending Tencent tumbling the most since August.
The Hang Seng - which no one should feel sorry for, because it's still up 33% YTD - has fallen for four straight sessions, the worst streak since June:
That came in no small part courtesy of Tencent, which has now fallen more than 7% from the record high hit earlier this month:
The Hang Seng Composite Info Tech Index dove 3.2%. “The
