Hang Seng Falls Sharply as US Aims to Delist Chinese Tech Stocks

Hang Seng tech index plunged 6% in early trading in a selloff after the U.S. SEC identified U.S.-listed American depositary receipts of Chinese companies that could be subject to delisting if they failed to comply with certain auditing requirements. The five companies are Yum China, BeiGene, Zai Lab, ACM Research and HUTCHMED.


JD and Trip are among the worst performers in Hang Seng Index, more than 15% and 13%, respectively. Meanwhile, Tencent fell 5.7%, Alibaba dropped 7% and Meituan plunged 11%. Hang Seng Index fell 3% in the morning session on Friday.