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Bloomberg

China Tech Shares Stage Rebound After Five-Week Selloff

(Bloomberg) -- Chinese technology stocks rallied in Hong Kong on Monday as bargain hunters pounced in the wake of the sector’s worst rout in months. The Hang Seng Tech Index closed 2.1% higher, following a near 11% slump last week that sent the gauge to the lowest level since its July 2020 inception on Friday. The index had dropped for five straight weeks, its longest losing streak since January 2019. The benchmark, which tracks the biggest technology stocks in China, has lost nearly 45% since a

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Bloomberg

Chinese Firm LinkDoc Said to Halt U.S. IPO After Crackdown

(Bloomberg) -- LinkDoc Technology Ltd. has halted plans for a U.S. initial public offering, people familiar with the matter said, the first known company to pull out of a debut after China’s government cracked down on overseas listings.Market volatility has played a part in the postponement and the Beijing-based medical data company could revisit its listing plans when conditions improve, said one of the people, who asked not to be identified as the information is private.LinkDoc was slated to p

Reuters

Alibaba Health-backed LinkDoc files for U.S. IPO

The Beijing-based company, which offers cancer-focused healthcare services, reported a 41% jump in revenue for the three months ended March 31, according to the filing. The companys listing plans come despite the U.S. introducing measures that could result in foreign companies being delisted from American stock exchanges within three years if they do not comply with the countrys auditing standards. Alibaba Health is the healthcare flagship platform for the Alibaba Group Holding Ltd conglomerate.

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