📣 📣 Top movers alert: JD, Alibaba tumble more than 4%

➡️ After US tech shares led the Nasdaq-100 lower overnight, Chinese tech shares are also proving to be a drag on the Hong Kong Hang Seng Index. Amongst the top tech laggards today, JD.com shares are down 4.4% while Alibaba shares are down 4.6% as of 1130AM

➡️ Pessimism in Chinese tech shares have reignited following PDD's latest caution that its revenue growth will slow as competition continues to heat up. The company said that its current trajectory wasn’t sustainable, reinforcing concerns fueled by Alibaba’s anemic revenue growth after its Chinese commerce business shrank for the first time in at least a year. (Bloomberg)