Products You May Like
Creator of the article:
Publishing date:
Jul 05, 2021 • 50 minutes in the past • 2 minute learn • Join the conversation
Article content material
SHANGHAI — Hong Kong shares fell on Monday, as tech companies slumped amid considerations over Beijing’s crackdown on ride-hailing large Didi International and scrutiny of different Chinese language platform firms.
** The Cling Seng index dropped 0.5%, to twenty-eight,181.72 factors, whereas the Hong Kong China Enterprises Index misplaced 1.1%, to 10,297.63.
** The Cling Seng tech index dropped 2.2% to its lowest since mid-Might.
** Tencent slumped 3.9%, Alibaba shed 2.4%, whereas JD.com , Baidu and Meituan retreated between 3.1% and 5.5%.
Commercial
Story continues beneath
This commercial has not loaded but, however your article continues beneath.
Article content material
** China’s greatest ride-hailing agency Didi International Inc stated on Sunday that the elimination of its “DiDi Chuxing” app from smartphone app shops in China is anticipated to have an adversarial influence on its income.
** Earlier on Sunday, China’s our on-line world regulator ordered app shops to cease providing Didi’s app after discovering that the corporate had illegally collected customers’ private information.
** On Monday, China’s our on-line world watchdog stated it’s investigating on-line recruiter Zhipin.com, and truck-hailing apps Huochebang and Yunmanman, ramping up a crackdown on the mainland’s tech firms amid tightened rules on information safety.
** On the mainland, China shares stabilized on Monday, following a hunch within the earlier session, at the same time as buyers reacted to the nation’s newest companies information.
Commercial
Story continues beneath
This commercial has not loaded but, however your article continues beneath.
Article content material
** The CSI300 index fell 0.2%, to five,072.12 factors on the finish of the morning session, whereas the Shanghai Composite Index gained 0.2%, to three,524.30 factors.
** The combined efficiency got here after main indexes on Friday fell probably the most in 4 months amid development considerations.
** “Most of (China’s) broad-based indices and trade indices now stand on the finish of a rising pattern, and the inventory rally because the first quarter might have ended, resulting in a possible correction going ahead,” Essence Securities notes in a report.
** A non-public survey confirmed on Monday development in China’s companies sector slowed sharply in June to a 14-month low, weighed down by a resurgence of COVID-19 circumstances in southern China, including to considerations the world’s second-largest financial system could also be beginning to lose some momentum. (Reporting by Luoyan Liu and Andrew Galbraith; Modifying by Shailesh Kuber)
Commercial
Story continues beneath
This commercial has not loaded but, however your article continues beneath.
