Chinese tech stocks rally to start week as investors eye bottom

Beijing has expanded its clampdown on private industry to tutoring companies and online gaming in a bid to reduce the wealth gap.

Chinese technology shares climbed on Monday after recording their best weekly advance since January as bargain hunters continued to load up on the beaten-down sector.

The Hang Seng Tech Index rallied 1.1%, led by live streaming giant Kuaishou Technology and Alibaba Health Information Technology Ltd. Food delivery company Meituan erased earlier losses and rose 1.5% ahead of its results, which showed second-quarter revenue beating estimates while losses continued.

The rally came despite a barrage of headlines of new rules for the tech sector, including a campaign to crack down on social media accounts that misinterpret domestic financial topics and the proposal for