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China crackdown makes Hang Seng Tech Index world’s biggest tech loser

Bloomberg
Bloomberg7/25/2021 03:24 PM GMT+08  • 3 min read
China crackdown makes Hang Seng Tech Index world’s biggest tech loser
The Hang Seng Tech Index was up nearly 6%, vs more than 40% for MSCI World Information Technology Index and the NASDAQ-100 Index
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An index launched a year ago to give investors greater exposure to China’s internet giants is now the world’s worst-performing major technology gauge.

The Hang Seng Tech Index has been on a roller-coaster ride in the last 12 months. The gauge, which marks its one-year anniversary on Tuesday, was up 59% at its February peak but has since seen more than $551 billion in market value wiped out amid Beijing’s clampdown on the sector.

That has reduced the gain to nearly 6%, compared to more than 40% for the MSCI World Information Technology Index and the NASDAQ-100 Index. The measure also lags onshore peers: the ChiNext Index is up 35% in the period.

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