Chinese tech shares fell on Friday, sending the Hang Seng index to new lows. They appear to be tracking US investors who have fled the sector after a string of disappointing earnings reports.
Alibaba
(ticker: BABA) shares in Hong Kong fell 5%, while
JD.com
(JD) decreased by about 7% and
Baidu
Tencent
(TCEHY) decreased by about 6%. The
Hang Seng Technology Index
closed down 5.6%, contributing to the decline
Hang Seng Index
was 3.7%, hitting its lowest level since April 2009.
