SoftBank's Alibaba Stake Sale Triggers Investor Exodus in China Tech

Despite recent promises from Beijing to welcome foreign capital and loosen its grip on the tech sector, some of the world's biggest investors are continuing to sell their investments in China's tech industry. European internet powerhouse Prosus NV registered more than $4 billion of stock in Tencent Holdings Ltd. for potential sale in Hong Kong, while SoftBank Group Corp. is preparing to hasten its exit from Alibaba Group Holding Ltd. The moves have dented investor optimism over China's economic outlook and its relationship with foreign investors.