- Highly-leveraged real-estate companies like China Evergrande
- E-commerce leader Alibaba Group which began like Jack Ma and led to the investigation on Alipay
- Food-delivery giant Meituan, which had to lower the fees that it charges restaurants for delivery to alleviate F&B outlets’ expenses
- Tencent Holdings which faces a probe to break up the conglomerate and also face suspension on new game titles
The HK stocks rebound is on a roll yesterday (16 Mar) with some big names like HK-listed Alibaba Group and NetEase surging 27.3% and 23.4% respectively!
If you still unaware, the China govt made a strong push to stabilize battered financial markets, promising to ease a regulatory crackdown, support property and technology companies and stimulate the economy.
To recap, the ongoing selldown was led by China regulators taking issues on the following: