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SoftBank drops 7% as AI-linked tech sell-off extends; Tencent, Meituan, Baidu and Kuaishou gain in Hong Kong

7/29/2026

A 7% slide at SoftBank leads a session in which AI-linked technology names are extending losses across the sector. Broader regional weakness is the baseline.

Four Chinese internet companies listed in Hong Kong, Tencent, Meituan, Baidu and Kuaishou, all moved higher. SoftBank, AI plays, and the direction of the sell-off The source frames this as an extension, not an onset.

Tech stocks as a group have been selling off, and the session continues that direction.

SoftBank's 7% drop is the named figure; AI plays as a broader category are also absorbing losses, with SoftBank as the headline example.

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