Beijing, March 16 (TIWN) Covid-19 lockdowns and China's position on the Ukraine conflict led to tech shares rout on Tuesday, slashing billions of dollars from the likes of Alibaba Group Holding and Tencent Holdings in Hong Kong, media reports said.

According to South China Morning Post, Hang Seng Index hit a new six-year low as more than $460 billion of market value from tech stocks evaporated this year and Alibaba crashed by a record 12 per cent.  The lockdowns weighed on China’s stock market trading, shrinking Shanghai’s Monday turnover by 12 per cent to $60 billion, shaving 10.3 per cent off Shenzhen’s volume of traded shares to $85.2 billion.