Chinese tech stocks are rallying – investors see an end to crackdown

<p>On Friday Chinese regulators announced they were fining Ant Group 7.123 billion yuan ($985 million) for violating regulations in its payments and financial services.</p><p>This is being viewed as an indicator that more than two years of scrutiny and crackdown on the firm that led it to scrap its planned public listing may have come to an end. The move is widely seen as finalising Beijing's probe into the firm and allowing Ant to revive its initial public offering.</p><p>There was some earlier bullish news for stocks also:</p><ul><li><a href="https://www.forexlive.com/news/fees-to-be-cut-on-around-1500-mutual-fund-products-in-china-20230709/" target="_blank" rel="follow" data-article-link="true">Fees to be cut on around 1500 mutual fund products in China</a></li></ul><p>Shanghai Comp higher:</p>

This article was written by Eamonn Sheridan at www.forexlive.com.