- 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…