Investing.com — U.S.-listed Chinese stocks suffered the biggest drop in more than a month on Friday after policymakers in Beijing vowed to increase oversight of the stock market just as foreign investors continue to shy away from the second world's largest economy amid a bumpy economic recovery. .
of Chinese stocks listed in the United States, which include major Chinese tech giants such as Ali Baba (NYSE:), JD (NASDAQ:).com, Baidu (NASDAQ:), fell 4.6% on Friday, their biggest drop since March.
Policymakers in Beijing detailed new guidelines seeking to address stock market volatility, including stricter oversight of companies seeking to list in China.
Sentiment on Chinese stocks soured further after two brokerages, Citic Securities and Haitong Securities, came under regulatory investigation for alleged violations of the law.
Beijing's adoption of a less market-friendly policy stance comes as foreign investors continue to head for the exits amid ongoing concerns about China's recovery, rising geopolitical tensions and fears over a potential real estate crisis. .
Economic concerns were further exacerbated on Friday after the latest data showed that import and export activity in March fell well short of economists' estimates.
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