South-East Asia’s tech firms take a battering
Low investment is compounded by turn against unprofitable growth stocks
Investors couldn’t get enough of South-East Asia’s consumer-technology giants a year ago. This year, they have been unable to log off quickly enough. Tech firms across the region are suffering. They have been buffeted by the same forces that have sent tech stocks globally tumbling by more than 20% this year. On top of this, surging inflation and the expectation of higher interest rates have diminished the appeal of companies which aim for rapid growth in the present with reliable profits only arriving sometime in the future.
This article appeared in the Business section of the print edition under the headline “Tropical Depression”
Business August 27th 2022
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