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China Markets Slide as Yuan Falls Past 6.9, Tencent Drags Stocks

Amanda Wang, Tian Chen, Helen Sun
China Markets Slide as Yuan Falls Past 6.9, Tencent Drags Stocks

China’s equities and currency slid, with the yuan weakening past 6.9 a dollar for the first time since May 2017 and losses in tech stocks spiraling into a broad selloff. The Hang Seng China Enterprises Index fell 2 percent at the close for its fourth day of losses. Tencent Holdings Ltd. rattled equities after surprising investors with its first profit drop in at least a decade, sending MSCI’s emerging-market benchmark down 1.3 percent.

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