- Home >> Features >> Technology
Bewildered investors in China’s tech sector scramble once again
- Wednesday | 4th August, 2021
SHANGHAI/SINGAPORE (Reuters) – Bewildered investors in China’s tech sector scrambled once again from regulators on Tuesday, fearing that a state media story that likened internet gaming to opium signals a new front in the barrage of scrutiny that is being directed toward big business. Tencent, the social-media-to-gaming behemoth, fell 6% and was briefly knocked from its mantle as Asia’s most valuable company, while semiconductor stocks slid as the moves seemed to unwind authorities’ days-old promise of a calmer hand. “This drip feed of ‘potential’ regulations constitutes a tsunami of uncertainties,” said Richard Kramer, managing partner of Arete Research. China’s CSI All Shares Semiconductor & Semiconductor Equipment Index tumbled over 6%. “(The share price moves) showed how investors are jumpy these days,” said Ether Yin, partner at Beijing-based consultancy Trivium.
If You Like This Story, Support NYOOOZ
Your support to NYOOOZ will help us to continue create and publish news for and from smaller cities, which also need equal voice as much as citizens living in bigger cities have through mainstream media organizations.
