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Hong Kong stocks end lower as tech shares drag

Reuters2021-07-21

July 21 (Reuters) - Hong Kong stocks fell on Wednesday, as Beijing's tight regulation continues to weigh on technology shares.

The Hang Seng index ended 0.1% lower at 27,224.58, while the China Enterprises Index lost 0.3%, to 9,831.02 points.

Shares in Chinese property giant Evergrande Group fell 1.8%, after falling 33% in the previous two sessions. Investor concerns persist even after a housing authority in China removed an earlier sales suspension at Evergrande's two residential projects on Tuesday.

CSOP China Healthcare Disruption Index ETF debuted in Hong Kong on Wednesday, and the ETF dipped 0.9%.

The Hang Seng Tech Index fell, as Beijing's tight regulations continue to weigh on the sector.

The Cyberspace Administration of China $(CAC)$ said on Wednesday it summoned representatives of Kuaishou , Tencent's messaging tool QQ, Alibaba's Taobao and Weibo for spreading child-related obscene content.

CAC said in a statement it ordered the platforms to "rectify" and "clean up" all illegal content, and that CAC would fine the platforms.

Kuaishou dropped 1.8% and Tencent lost 0.8%.

(Reporting by the Shanghai Newsroom)

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Linh2
·2021-07-21
good
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Matchbox20
·2021-07-21
What happened HK?
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ToTheMOON
·2021-07-21
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- Linh2:
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  2021-07-21
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