September 17, 2021
Technology

Hong Kong shares fall on Beijing’s latest tech crackdown; China mixed

SHANGHAI, Sept 13 (Reuters) – Hong Kong and China shares fell on Monday, dragged by internet giants following a slew of moves by Beijing to crack down on the country’s technology sector.

Chinese blue-chips were also pressured after new bank loans in August missed forecasts.

The Hang Seng index dropped 2.0% to 25,686.91. The Hong Kong China Enterprises Index lost 2.0% to 9,199.11.

The CSI300 index fell 0.4% to 4,991.62 at the end of the morning session, while the Shanghai Composite Index gained 0.1%, to 3,706.73 points.

** Shares of tech giants Meituan, Alibaba Group and Tencent Holdings slumped 6.3%, 4.5% and 3.7%, respectively.

** The latest moves in Beijing’s crackdown include telling delivery and ride-hailing firms to better protect workers, breaking up Ant’s Alipay and forcing creation of separate loans app, and telling internet giants to stop blocking each other’s website…

Read full article here: www.reuters.com