Aug 5 (Reuters) – Hong Kong stocks ended lower in a volatile session on Thursday, as uncertainty around regulatory tightening in the tech sector sapped risk appetite.
** At the close of trade, the Hang Seng index was down 221.86 points or 0.84% at 26,204.69. The Hang Seng China Enterprises index fell 1.3% to 9,296.43.
** The sub-index of the Hang Seng tracking technology shares dropped 2.1%, while the IT sector fell 2.31%.
** The Chinese Communist Party’s top decision-making body at its latest meeting mentioned terms like “anti-monopoly” and “curbing disorderly expansion by capital”, portending a regulatory storm that would crush tech stocks in the coming months, said Larry Hu, chief China economist at Macquarie in Hong Kong.
** The three biggest H-share percentage decliners were Kuaishou Technology, down 15.3%, Alibaba Health Information Technology Ltd, which fell 6.17% and Country Garden Services Holdings Co Ltd, which shed 4.75%.
** Around the region, MSCI’s Asia ex-Japan stock index was weaker by 0.29%, while Japan’s Nikkei index closed up 0.52%.
** This week, the MSCI Asian regional benchmark has recovered most of the ground lost a week earlier, when a series of Chinese regulatory crackdowns on sectors from property to education squeezed Chinese stocks and overshadowed the region as a whole. (Reporting by the Shanghai Newsroom; Editing by Ramakrishnan M.)