China Tech Stocks Slide as Russia, Covid Concerns Deepen Chinese stocks listed in Hong Kong had their worst day since the global financial crisis, as concerns over Beijing’s close relationship with Russia and renewed regulatory risks sparked panic selling. The Hang Seng China Enterprises Index closed down 7.2% on Monday, the biggest drop since November 2008. The Hang Sang Tech Index tumbled 11% in its worst decline since the gauge was launched in July 2020, wiping out $2.1 trillion in value since a year-earlier peak. The broad selling follows a report citing U.S. officials that Russia has asked China for military assistance for its war in Ukraine. Even as Chinese authorities denied the report, traders still worry that Beijing’s potential overture toward Vladimir Putin could bring a global backlash against Chinese firms, even sanctions. That comes on top of a spate of regulatory worries. Tencent Holdings Ltd. is reportedly […]