Market Views: Are Chinese tech firms overvalued?
China’s tightening of fintech regulations has dealt a blow to companies such as Alibaba and Tencent. With a slew of IPOs coming in Hong Kong, investors assess tech stock valuations.
Enthusiasm for Chinese tech firms has tapered after Ant Group was thrown into disarray by China’s new financial rules. Investors’ appetite for these shares has not entirely recovered as the country’s top leaders continue to stress the need to tighten financial regulations to prevent the so-called “disorderly” expansion of capital.
The Hang Seng Tech Index, which represents the 30 most prominent technology companies listed in Hong Kong, including Alibaba and Tencent, fell to 8,551 …
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