The previous week's update titled Chinese Internet Stocks Demonstrate High Resilience But Brace For Correction Anyway proved prescient. Nonetheless, I admit the risks mentioned - the rising vitriol and aversion towards Chinese companies - were not the main triggers for the decline last week.
Rather, it was attributed to investors' realization of "the risks to the economy from pandemic-related shutdowns earlier this year and the prospect of a second-wave of coronavirus infections as government’s lift restrictions on activity", according to The New York Times.
Some pundits placed the blame on the