With Chinese regulators clamping down on various industries, stocks in China’s markets took a major hit. The Hang Seng stocks fell 1.8%, with a weekly drop of 5.8%. The Shanghai Composite fell 1.1%, Alibaba 2.6%, while Tencent is at a 14-month low. With new rules being announced seemingly daily, investors are fast losing confidence, and the result shows in the market with $560B wiped off Chinese markets within a week.
Source: Times of India