Alibaba, JD, Baidu, and NIO Sink as China Tech Stocks Follow U.S. Selloff

Chinese technology stocks fell on Friday driving the Hang Seng Index to new lows. They seemed to be following U.S. investors who have fled from the sector after a string of disappointing earnings reports. 


(ticker: BABA) stock was down 5% in Hong Kong, while

(JD) fell around 7% and


(BIDU) and


(TCEHY) were down around 6%. The

Hang Seng Tech Index

closed down 5.6%, contributing to a fall in the

Hang Seng Index

of 3.7%, hitting its lowest levels since April 2009.