The Hong Kong market saw heavy selling here on Wednesday in Chinese tech names such as Alibaba Group Holding ( and HK:9988), which dropped 3.7% on the day. Investors also were spooked by ride-hailing operator DiDi Global , which mentioned in its annual report that it is being investigated by the U.S. Securities and Exchange Commission over its disastrous initial public offering last June. Hong Kong was closed just for Monday.

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