Hong Kong stock market finished session down on Monday, 13 September 2021, dragged lower by internet technology giants amid the latest moves from Beijing to reshape online businesses.
At closing bell, the benchmark Hang Seng Index fell 1.5%, or 392.10 points, to 25,813.81.
The Hang Seng China Enterprises Index dropped 1.58%, or 147.85 points, to 9,238.99.
Shares of Chinese technology firms declined after mainland regulators ordered sweeping changes to the country’s biggest payment app, Alipay, as leaders press ahead with a crackdown on the sector. Alibaba Group Holding, which owns one-third of Ant Group, lost 4.2% while Tencent Holdings declined 2.7% and Meituan slid 4.5%.
Powered by Capital Market – Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.