New rules from China’s antitrust regulator send stock prices tumbling

New rules from China’s antitrust regulator send stock prices tumbling

19. August 2021 0 By Horst Buchwald

New rules from China’s antitrust regulator send stock prices tumbling

Shanghai, Aug. 19, 2021

Shares of Tencent and Alibaba fell 4.8% and 4.1%, respectively, after China’s antitrust authority published draft rules prohibiting unfair competition.

Affected are technology companies , which suppress small and medium-sized enterprises with monopolistic practices. They also include false advertising claims and unfair handling of consumer data.

They are part of an ongoing government crackdown that has led to a drop in the valuations of major tech companies such as Alibaba, Didi Global and Tencent over the past month.

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