Tech stocks listed in Hong Kong, including the Hang Seng Tech index tracking large mainland Chinese technology companies, fell 11% into correction territory due to profit booking, trade war uncertainty, and U.S. restrictions on Beijing’s tech access. Chinese tech stocks saw a boost from AI advancements and increased investor interest, with mainland Chinese investors making record purchases in stocks like Alibaba and Tencent. Despite recent volatility, experts believe China tech stocks still offer diversification opportunities, with strong support from the government, positive earnings, and lower valuations compared to global counterparts.
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Florida plans migrant detention centre in Everglades
The Department of Homeland Security is establishing a detention center for migrants in the Florida Everglades, funded largely by FEMA, with costs estimated at $450 million annually. Criticism has arisen from local lawmakers, including Miami-Dade's mayor, over potential environmental impacts, while Florida's Attorney General argues the site will deter escapees due to its remote location. Need More Context? 🔎
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