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Chinese Tech Trades Heavy, Again

EQUITIES

Another heavy start for Chinese tech stocks (Hang Seng Tech Index sheds more than 3.00%), with over CNY3bn of net outflows from Chinese stocks lodged via the HK-China northbound Stock Connect channels in the early rounds of Tuesday trade (putting Chinese equities on track for three straight days of net outflows via those channels). Geopolitical worry re: potential fresh U.S. action against the Chinese chip sphere have been a key headline driver of the weakness observed over the last couple of sessions. Note that the benchmark CSI 300 broke and closed below its 200-DMA on Monday.

MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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