Chinese Tech Stocks Stumble Amid Sluggish Sentiment
Summarize this article with:
LIVEDow Set to Open Up Ahead of Jobs DataLast Updated: 49 min agoChinese Tech Stocks Stumble Amid Sluggish SentimentBySherry Qin, Dow Jones NewswiresChinese chip and tech stocks stumbled as the negative sentiment on Wall Street carried over into Monday's session."Hong Kong tech is getting hit from both sides—Wall Street's AI hangover is dampening global appetite for growth names, and weak China data is reminding investors that the domestic demand story still isn't healing," Saxo Markets chief investment strategist Charu Chanana said in an email.U.S. tech giants Oracle and Broadcom fueled artificial-intelligence skepticism last week and the sentiment has spilled over to Asian markets. China released its November activity data earlier in the Asian trading session, showing weakness from spending to investment to real estate. China's tech heavy ChiNext Price Index ended 1.8% lower.