China's SenseTime at near 8-mth low on US congressional panel probe

SenseTime

20/07/2023 05:50

** Shares of Chinese artificial intelligence (AI) software
developer SenseTime Group Inc  0020.HK  slip 1.7% to HK$1.76,
their lowest since Nov. 29
    ** Stock on course for the fourth straight session of
decline; third-biggest loser in Hang Seng China Enterprises
Index  .HSCE  
    ** A U.S. House of Representatives committee has launched an
investigation into investments by four U.S. venture capital
firms, including Qualcomm Inc's  QCOM.O  Qualcomm Ventures, into
Chinese artificial intelligence and semiconductor companies  
    ** Qualcomm Ventures invested in SenseTime, a company the
U.S. blacklisted in 2019 over its alleged role China's efforts
to profile and track Uyghurs, the committee said
    ** The committee sent letters on Tuesday to the U.S firms
asking for information on their investments in China and setting
an Aug. 1 deadline for the firms to respond
    ** The Hang Seng Composite Index on information technology
firms  .HSCIIT  climbs 0.1% while the Hang Seng Tech Index
 .HSTECH  slips 0.3%
    ** The Hang Seng China Enterprises Index  .HSCE  gains 0.4%
and the Hang Seng Index  .HSI  adds 0.3%
    ** As of last close, stock of the Shanghai-based company had
fallen 19.4% this year

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))