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[ad_1] Jeanny Yu / Bloomberg : Tencent stocks fell 5.2% on Monday as Chinese language tech shares had their worst two-day drop since July 2021, amid fears of approaching regulatory crackdowns — Chinese language era stocks had their worst two-day drop since July because of renewed fears Beijing might roll out extra restrictions for personal endeavor. [ad_2] #Tencent #stocks #fell #Monday #Chinese language #tech #shares #worst #twoday #drop #July #fears #approaching #regulatory #crackdowns #Jeanny #YuBloomberg https://mycyberbase.com/technology/tencent-stocks-fell-5-2-on-monday-as-chinese-language-tech-shares-had-their-worst-two-day-drop-since-july-2021-amid-fears-of-approaching-regulatory-crackdowns-jeanny-yu-bloomberg/?feed_id=17424&_unique_id=648de76911592 #Technology

[ad_1] Eight months ago, the future of China’s largest internet companies looked grim. Covid-era lockdowns crushed sales, and Beijing’s harsh tech regulations had spooked even audacious China investors. Shares of Alibaba, Baidu and Tencent dropped to some of their lowest levels in several years. With China’s economy now reopen, the tech giants this week released earnings reports that showed initial signs of recovery. But the financial results, the first issued since the end of “zero Covid” restrictions, also reflected the uneven pace of China’s economic rebound and signaled that the companies’ makeovers, while underway, are likely to be rocky. Baidu, China’s leading internet search business, and Tencent, owner of the ubiquitous messaging app WeChat, both recorded double-digit revenue growth in the first three months of the year over the same period in 2022, marking the first time in over a year that they had reached that level. Revenue rose 10 percent at Baidu, which said on Tuesd...