Bewildered investors in China’s tech sector scramble once again

SHANGHAI/SINGAPORE (Reuters) – Bewildered investors in China’s tech sector scrambled once again from regulators on Tuesday, fearing that a state media story that likened internet gaming to opium signals a new front in the barrage of scrutiny that is being directed toward big business. Tencent, the social-media-to-gaming behemoth, fell 6% and was briefly knocked from its mantle as Asia’s most valuable company, while semiconductor stocks slid as the moves seemed to unwind authorities’ days-old promise of a calmer hand. “This drip feed of ‘potential’ regulations constitutes a tsunami of uncertainties,” said Richard Kramer, managing partner of Arete Research. China’s CSI All Shares Semiconductor & Semiconductor Equipment Index tumbled over 6%. “(The share price moves) showed how investors are jumpy these days,” said Ether Yin, partner at Beijing-based consultancy Trivium.

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