[ad_1]
Probably fake/iStock not released by Getty Images
Ali Baba (Nice: BabyBilibili (Nasdaq: Bill) and Weibo (Nasdaq: WBChinese tech stocks lost ground on Wednesday as investors turned their backs on China’s Covid-19 policies and issues.
The Biden administration said on Wednesday Travelers from China must test negative for Covid before being allowed into the US. The new policy requires all travelers to be at least two years old and on flights from China, Hong Kong or Macau. Test negative for covid two days before departure to the US The new law will be implemented from January 5.
Among Chinese tech stocks, Alibaba ( BABA ) fell 3%, Weibo ( WB ) fell nearly 6% and Bilibili ( BILI ) fell 9% on the day after announcing plans to cut 30% of its workforce in the game. Operations and streaming TV episodes.
Other losses came from Baidu ( BIDU ), which fell more than 4%. NetEase ( NTES ), which was off 2.4%; JD.com (Nasdaq: JD), down 4.5%, and Tencent Holdings ( OTCPK:TCEHY ), down 2% on the day.
Earlier Wednesday, Tencent ( OTCPK:TCEHY ) was among the companies that received approval from Chinese authorities to release foreign video games in China.
Wednesday’s loss comes on the heels of China saying that starting Tuesday, Jan. 8, international travelers will only have to provide a negative COVID test taken 48 hours before arriving in the country, and such travelers will not need to self-quarantine for five days. Reach China.
[ad_2]
Source link
