TCEHY - Chinese tech sees sharp decline after proposed data-collection JV

Some Chinese tech names are seeing their biggest decline in months in the wake of news that China is reportedly proposing a joint venture to oversee data collection from e-commerce and digital payment companies. Tencent Music (TME) has slid 20.4% in NYSE trading, a record decline for the stock. Parent Tencent (TCEHY) is down 3.4%. And Alibaba (BABA), frequently in China's crosshairs as of late, is off 2.4%. Others are seeing their worst declines in months. IQiyi (IQ) is -20.6%. Vipshop Holdings (VIPS) is -18.4%. JD.com (JD) -3.2%. Bilibili (BILI) -7.6%. Pinduoduo (PDD) -6.9%.

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Chinese tech sees sharp decline after proposed data-collection JV