Alibaba, JD, Baidu and NIO Sink as China Tech Stocks By US Selloff

China tech shares fall on Friday boosted

Hang Seng

Index hits new low. 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

(BIDU) and

Tencent

(TCEHY) decreased by about 6%. The Hang Seng Technology Index closed down 5.6%, contributing to a 3.7% drop in the Hang Seng Index, hitting its lowest level since April 2009.