China’s tech funding divide faces test as fears of an AI bubble rattle markets

For Jason Wang, a media operator based in Zhengzhou in central China’s Henan province, switching his long-held investment strategy of buying gold to tech-themed funds was a bittersweet decision. The 28-year-old retail investor, who has no idea about tech company fundamentals, started buying tech funds – focused on China’s semiconductors, robotics and similar sectors – at the end of last year amid a bull run that lasted until the middle of this year. Watching returns on his semiconductor funds...