Even so, Chinese tech stocks swung wildly Wednesday. Alibaba BABA Meantime, the Hang Seng Tech Index, a Nasdaq-like index that tracks the largest tech firms trading in the city, closed up 3.1%, while Meituan andeach rebounded 7.5% and 1.8%, respectively. A long shadowIn recent months, China's tech industry has suffered a series of regulatory body blows. Before this week's plunge, shares of overseas-listed Chinese tech firms had already lost a staggering $1 trillion in value between February and mid-July, according to Goldman Sachs analysts. Since then, several Chinese firms have backed away or reportedly reconsidered plans to list in the United States.

Source: CNN July 28, 2021 09:27 UTC