Tech sector weakness drags Hong Kong shares reduced

SHANGHAI, Jan 5 (Reuters) – Hong Kong’s Hold Seng index closed lessen on Wednesday, as tech shares mirrored weak point in international peers, while Chinese top market place regulator’s final decision to impose new fines on main technologies corporations also weighed on investor sentiment.

** At the close of trade, the Hang Seng index (.HSI) was down 1.64% at 22,907.25. The Cling Seng China Enterprises Index (.HSCE) fell 2.01% to 8,015.7.

** Next the market place near, Hong Kong announced a two-week ban on incoming flights from eight international locations and tightened limits to fend off a fifth wave of COVID-19 bacterial infections, in moves that could more weigh on trader sentiment on Thursday. examine additional

** China’s top sector regulator declared fines against Alibaba, Tencent Holdings Ltd (0700.HK), and Bilibili Inc (9626.HK) for failing to correctly report about a dozen promotions. read through extra

** Bilibili’s stock slumped 10.63%, when shares of Tencent and Alibaba fell 4.31% and 2.05%, respectively.

** Meituan (3690.HK) was the major drag in the Hold Seng index on Wednesday, dropping 11.16% and pulling the Dangle Seng Tech index down 4.63% to an all-time small.

** Mainland residence corporations outlined in Hong Kong (.HSMPI) fell .99%, as developer China Evergrande Group (3333.HK) announced it is trying to find a six-thirty day period hold off on bond payments in a meeting with bondholders this week.

** Evergrande shares closed .62% lessen.

** Shares of China Huarong Asset Management Co Ltd (2799.HK) plunged as a great deal as 55% in Hong Kong to a history very low, soon after buying and selling resumed next a 9-month hiatus. study a lot more

** Huarong shares ended 50% reduced on the day.

** China’s principal Shanghai Composite index (.SSEC) closed 1.02% reduce at 3,595.18 points, whilst the blue-chip CSI300 index (.CSI300) ended down 1.01%.

** The yuan completed its domestic session at 6.3677 for every greenback, more robust than Tuesday’s close of 6.3720.

Reporting by Andrew Galbraith Editing by Sherry Jacob-Phillips

Read more here