Chinese technology stocks fell on Friday driving the
Dangle Seng
Index to new lows. They appeared to be following U.S. traders who have fled from the sector just after a string of disappointing earnings reports.
Alibaba
(ticker: BABA) inventory was down 5% in Hong Kong, when
JD.com
(JD) fell about 7% and
Baidu
(BIDU) and
Tencent
(TCEHY) ended up down all around 6%. The Hang Seng Tech Index closed down 5.6%, contributing to a drop in the Cling Seng Index of 3.7%, hitting its lowest degrees since April 2009.
Chinese technology stocks fell on Friday driving the
Dangle Seng
Index to new lows. They appeared to be following U.S. traders who have fled from the sector just after a string of disappointing earnings reports.
Alibaba
(ticker: BABA) inventory was down 5% in Hong Kong, when
JD.com
(JD) fell about 7% and
Baidu
(BIDU) and
Tencent
(TCEHY) ended up down all around 6%. The Hang Seng Tech Index closed down 5.6%, contributing to a drop in the Cling Seng Index of 3.7%, hitting its lowest degrees since April 2009.
