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HSTECH Tumbles 10% in Feb, Down 23% in Total from Oct's Peak
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The HSTECH tumbled 10% in February, marking the sharpest single-month decline since January 2024, dented by weak corporate earnings and insufficient buying orders from mainland investors. The index is now in a bear market, having shed 23% from its peak last October. Owing to high valuations and escalating market competition, confidence in Chinese tech giants lowered. Meanwhile, investors further shifted funds towards chip manufacturers and newly listed AI companies. BIDU-SW (09888.HK) was one of the biggest decliners in the HSTECH this month, plunging 19%. AASTOCKS Financial News Website: www.aastocks.com |
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