Sumary of Hong Kong shares drop over 1.5% as tech, casino stocks weigh:
- Article content Hong Kong shares ended lower on Wednesday, dragged down by tech and casino gaming stocks, following reports that Beijing will step up its efforts to promote the development of a “civilized” internet.
- ** The Hang Seng index closed 1.8% lower at 25,033.21, while the China Enterprises Index lost 1.6% at 8,936.53 points.
- ** Tech stocks declined after state news agency Xinhua said China will push for a more ‘civilized’ internet by strengthening oversight over the likes of news websites and online platforms.
- Article content ** The Hang Seng Tech Index plunged 3.1%, with internet giants Tencent Holdings, Alibaba Group , and Meituan dropping 4.1%, 2.7%, and 4.5%, respectively.