Tech stocks in Hong Kong led declines in the city Monday, with the Hang Seng Tech Index falling as much as 3.6%. The sector was also among the weakest performers in China, with the ChiNext Index dropping as much as 2%. Suppliers to Apple Inc. saw some of the biggest declines.
Why Tencent and WeChat Are Such a Big Deal in China: QuickTake
Deteriorating relations between the U.S. and China are raising investor concerns about the geopolitical impact on economies and markets. In addition to the WeChat ban, Trump signed an order to prevent U.S. residents from doing business with ByteDance Ltd.’s TikTok app starting in six weeks.