Shares in some of China’s biggest tech companies were under pressure Monday amid regulatory scrutiny from Beijing on the metaverse—an emerging space that both Alibaba and Tencent have pushed into.
Alibaba (ticker: 9988.H.K.) stock fell 3.9% in Hong Kong trading with Tencent (0700.H.K.) tumbling 5.2%, extending declines from Friday. The U.S.-listed shares of both companies were not trading Monday due to the Presidents Day holiday.
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