China’s top tech giant Alibaba experienced one of its worst days in US share market. Its share price (NYSE: BABA) dropped harshly by 11% from $161, the day before, to $143 when market closed on Thursday.
The Hang Seng Tech Index (HSTECH) – dubbed“Hong Kong’s Nasdaq” by market-watchers – represents China’s fast growing ‘new economy’. It is comprised of many renowned tech firms, such as Tencent and Alibaba.
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