Chinese tech stocks are getting slammed

An investor sits in front of displays showing stock information at a brokerage office in Beijing

An investor sits in front of displays showing stock information at a brokerage office in Beijing China

Stock indexes in Tokyo, Shanghai, and Shenzhen fell by more than 4%. Both sprang from slight dips at opening.

Stocks dropped as much as four percent during the day, before paring losses in afternoon trading.

A sell-off in Chinese and Hong Kong shares deepened Thursday, following a slump in USA equities and as concerns about a trade war persist.

A value above 100 indicates Shanghai shares are pricing at a premium to shares in the same company trading in Hong Kong, and vice versa.

China's vast export engine unexpectedly kicked into higher gear in September, producing a record trade surplus with the United States that could exacerbate the already-heated dispute between Beijing and Washington.

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A total of 2.04 billion shares changed hands with a turnover of 1.36 billion Singapore dollars (about 985.3 million USA dollars). For the Shanghai Composite, the technicals show that price has now cracked the support seen from February and March 2016.

Chinese stocks also fell severely on Monday, earlier this week.

The Shenzhen Composite Index, which tracks stocks on China's second exchange, plummeted 6.45 percent, or 89.15 points, to 1,293.90, the lowest point since September 2014. Trading volume stood at 288.6 million shares worth 6 trillion won (5.3 billion USA dollars).

On the Hang Seng Index, CBBCs investors made about HK$480 million (US$61 million) from bear contracts on Thursday, exceeding the HK$200 million loss incurred by their bull versions, according to Dick Chau, director for UBS Group AG's equity-derivatives sales in Asia.

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