Hong Kong Market skids on regulatory worries

Hong Kong stock market finished session down on Thursday, 05 August 2021, as selloff pressure continued for second day in row, on tracking decline in Mainland A-share market amid concerns about China's government imposition of stricter curbs to control coronavirus Delta-variant infections and more regulatory backlash after recent attacks on technology and private education sectors.

At closing bell, the benchmark Hang Seng Index declined 0.1%, or 25.29 points, to 26,179.40. The Hang Seng China Enterprises Index fell 0.25%, or 22.88 points, to 9,273.55.

The sub-index of the Hang Seng tracking the commerce & industry sector fell 0.01%, the utilities sector fell 0.44%, the finance sector fell 0.08%, and the properties sector fell 0.6%.

Shares of dairy makers declined after reports called for greater scrutiny on the marketing of baby-milk formula. China Feihe, the producer of baby-milk formula, tumbled 4.4% to HK$14.06. China Mengniu Dairy, the nation's biggest producer, slumped by as much as 5.9% before closing unchanged at HK$44.95.

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