Major Chinese Tech Stocks Experience Widespread Declines, New Oriental Leads Losses

Stock News05-21 23:41

On Thursday, the Nasdaq Golden Dragon China Index fell nearly 3%, with a majority of popular Chinese stocks experiencing declines. New Oriental Education & Technology saw a drop of over 5%, while TAL Education Group fell more than 4%. Alibaba declined nearly 4%, Tiger Brokers dropped over 2%, and Futu Holdings Limited slid more than 1%. Concurrently, China's Shanghai Composite Index plunged over 2%, and the Hong Kong Hang Seng Index fell more than 1%. Market sentiment was weighed down by U.S. Treasury yields remaining at elevated levels above 5%, intensifying expectations for tighter global liquidity and putting pressure on growth stocks. Additionally, technical resistance around the 4,200-point level for A-shares contributed to selling pressure emerging in response to market fluctuations.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

Comments

We need your insight to fill this gap
Leave a comment