Investors sit in front of a board showing stock information at a brokerage house on the first day of trade in China since the Lunar New Year, in Hangzhou, Zhejiang province, China February 3, 2020. China Daily via REUTERS

  • Confidence crumbles amid mounting China regulatory crackdowns
  • Hang Seng falls 1.8%, weekly loss largest since March 2020
  • CSI300 down 1.9%; credit markets on edge
  • Yuan, Hong Kong dollar sold as cash flows out

Aug 20 (Reuters) – China’s tech stocks slumped to new lows on Friday and Hong Kong’s benchmark index hit an almost 10-month trough, as an unrelenting series of Chinese regulatory crackdowns crushed investors’ confidence.

More than $560 billion in market value has been wiped off Hong Kong and mainland China exchanges in a week as funds capitulate out of once-favoured stocks, unsure which sectors regulators will target next.

The Hang Seng (.HSI) fell 1.8% and its weekly drop of 5.8% was the largest since the height…

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