HK tech shares drop as China tightens cybersecurity review requirements

Hong Kong Technology Venture Co

04/01/2022 03:10

** Hong Kong's Hang Seng Tech Index  .HSTECH  falls more
than 1%, versus a 0.2% drop in the broader Hang Seng  .HSI  amid
investor concerns over continued regulatory clampdowns on
China's high-tech sector.
    ** China's cyberspace regulator says it would implement
rules that require any company with data for more than 1 million
users to undergo a security review before listing its shares
overseas from Feb. 15  urn:newsml:reuters.com:*:nB9N2SO028
    ** Bilibili Inc  9626.HK  leads falls among tech firms, down
as much as 6.48%.
    ** Index heavyweight Tencent Holdings Ltd  0700.HK  falls as
much as 1.85% and Meituan  3690.HK  falls nearly 2%
    ** Regulatory tightening around high tech firms saw the Tech
index fall by nearly a third in 2021
    ** The Hang Seng index fell 14.1% last year

 (Reporting by Andrew Galbraith)
 ((Andrew.Galbraith@tr.com))