Hong Kong Stocks Slump On China Crackdown
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2021-07-26 HKT 09:43
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Hong Kong shares started Monday morning with sharp losses as tech firms took another hit from China's clampdown on the sector, with Tencent among the biggest losers after mainland authorities said it had to give up its exclusive music label rights citing anti-monopoly laws.
The Hang Seng Index sank 1.82 percent, or 496.25 points, to 26,825.73.
The benchmark Shanghai Composite Index shed 0.35 percent, or 12.38 points, to 3,538.01, while the Shenzhen Composite Index slipped 0.30 percent, or 7.35 points, to 2,460.79. (AFP)
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