Asian shares tumble on fears China tech clampdown could intensify
Asian shares tumbled on Monday as concerns about China’s clampdown on local technology companies intensified.
The region’s biggest benchmarks all notched losses on Monday.
The Nikkei slid 0.64 per cent after a surge in Covid-19 infections in Japan, while Hong Kong’s Hang Seng was down 0.59 per cent.
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Chinese technology companies suffered falls on fears that authorities could crank up their scrutiny of the sector even further after recently US listed Didi was severely reprimanded.
Didi was ordered to be taken off domestic app stores days after the ride-hailing business raised $4.4bn in the largest listing of a Chinese firm in the US since e-commerce giant Alibaba in 2014.
Other indexes in the region fell in morning trading, but have since pared back losses.
Taiwanese shares rose 1.18 per cent, while China’s Shanghai Shenzhen 300 inched up 0.09 per cent.
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