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Internet companies face even more regulations

Chinese tech stocks recovered on Thursday. But investors remain skeptical whether the worst is over. Beijing announced its intention to further regulate the sector with a major campaign over the next six months.

China’s battered tech stocks finally rallied on Thursday. On the Hong Kong stock exchange, the share price of Chinese internet giant Tencent leaped more than ten percent. Alibaba was up 7.7 percent and delivery service Meituan was up 9.5 percent. Investors were somewhat relieved by this leap in share prices, but lately, there is very little to laugh about for owners of Chinese internet stocks. The tech crackdown continues.

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