Down $391 billion, China tech investors wargame worst-case scenarios
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Investors are watching Alibaba Group Holding as Beijing rolls out new anti-monopoly regulations.
PHOTO: EPA-EFE
BEIJING (BLOOMBERG) - With 22 pages of vaguely worded edicts, China has cast doubt on the future of its biggest internet companies and ignited a US$290 billion (S$391 billion) equity selloff.
Investors are now gaming out how bad it might get for Alibaba Group Holding, Tencent Holdings and other Chinese internet giants as Xi Jinping's government prepares to roll out a raft of new anti-monopoly regulations.
