Stock Track | JOYY Inc. Plummets 5.4% Intraday on Wednesday Amid Broader Tech Selloff

Stock Track

02-26

Shares of JOYY Inc. (YY) plummeted 5.4% on Wednesday, underperforming the broader market as investors rotated out of US tech stocks into Chinese tech firms. The selloff came amid a correction in major US tech names, prompting a shift towards cheaper-valued Chinese counterparts.

The stock's decline followed a recent surge in Chinese ADRs and ETFs, as investors anticipated Beijing would support technological innovation amidst intensifying US-China rivalry. KE Holdings, Li Auto, XPeng, JD.com, and Alibaba were among the Chinese tech stocks that saw significant gains on optimism for policy support.

However, JOYY Inc. bucked the broader uptrend in Chinese tech stocks on Wednesday, potentially due to profit-taking after its recent rally. As a social media company, JOYY may have been viewed as less of a direct beneficiary of potential policy support for innovation compared to firms focused on emerging technologies like electric vehicles and artificial intelligence.

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Plummets 5.4% Intraday on Wednesday Amid Broader Tech Selloff\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1086803395\">\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390);background-size:cover;\"></div>\n<div class=\"h-content\">\n<p class=\"h-name\">Stock Track </p>\n<p class=\"h-time\">2025-02-26 23:02</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>Shares of JOYY Inc. (YY) plummeted 5.4% on Wednesday, underperforming the broader market as investors rotated out of US tech stocks into Chinese tech firms. The selloff came amid a correction in major US tech names, prompting a shift towards cheaper-valued Chinese counterparts.</p>\n<p>The stock's decline followed a recent surge in Chinese ADRs and ETFs, as investors anticipated Beijing would support technological innovation amidst intensifying US-China rivalry. 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