Chinese Tech Stocks Fall, Led by E-Commerce Players
By Sherry Qin
Shares of Chinese tech companies including Alibaba and JD.com slid again Thursday as concerns about regulatory scrutiny added to the broader selloff that has swept the sector.
Tech and chip-related stocks have had a bruising week of trading in China and Hong Kong, buffeted by worries over an artificial-intelligence bubble and higher rates due to the Middle East war's impact on inflation.
On Thursday, a move by Beijing's market watchdog brought up echoes of the regulatory sectorwide crackdowns that have hit some of China's biggest companies in the past.
The Beijing Municipal Administration for Market Regulation said Thursday that it summoned major Chinese e-commerce platforms--Alibaba's Taobao and Tmall, JD.com, Pinduoduo, ByteDance's Douyin and Xiaohongshu.
The market watchdog said it raised issues such as false advertising, as well as failure to disclose promotional conditions and product information. It said it is aiming to prevent excessive competition in the sector as Chinese e-commerce platforms have kicked off promotional activities for their midyear shopping festival.
Alibaba shares fell 5.9% and JD.com was 3.5% lower, leading losses among tech stocks in Hong Kong. Tencent fell 1.5% and Baidu slid 3.0%.
Write to Sherry Qin at sherry.qin@wsj.com
(END) Dow Jones Newswires
June 11, 2026 03:38 ET (07:38 GMT)
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