Hong Kong Market falls 1.5%

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%.

 

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