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Hang Seng Tech Index Tumbles Early On

EQUITIES

The Hang Seng Tech Index has shed over 4.0% after the elongated weekend. Softer than expected Chinese PMI data released over the weekend will be applying some pressure, but there is also some idiosyncratic news to factor in. Alibaba shares have tumbled after CCTV reported that China has imposed “compulsory measures” on an individual with the surname of Ma, with the matter tied to national security. Speculation is doing the round that the individual could be Alibaba founder Jack Ma.

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

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