Listed Chinese companies were in focus in the stock market on Tuesday, as investors closely watched the fallout of a wide-reaching crackdown by Beijing in the tech and education sectors.
Shares of US-listed Chinese companies headed lower overnight — suffering their biggest two-day fall since the financial crisis in 2008.
An index following the 98 biggest US-listed Chinese socks, the Nasdaq Golden Dragon China Index, has been knocked almost 15% off course in that time.
It had hit record highs in February, but has lost nearly half of its value, dipping 45% since then.
A series of crackdowns by Beijing in tech and education roiled stocks, with the latest dip coming following a $120bn (£87bn) overhaul of private tutoring in the region. All institutions offering tuition on school curricula will now be registered as non-profits.
The dive has seen around $770bn eliminated from the value of US-listed Chinese stocks in the last five months.
Following the US lower, stocks in…
