Tencent, JD.com weigh on Hong Kong market as China finalises cybersecurity measures to tighten oversight of tech companies

Hong Kong stocks wavered as tech companies tumbled after Chinese regulatory authorities finalised cybersecurity review measures to tighten data oversight of its technology companies in offshore markets.

The Hang Seng Tech Index sank 1 per cent, with Tencent Holdings losing 0.8 per cent while Meituan and JD.com retreated by almost 2 per cent. The benchmark Hang Seng Index was little changed. The CSI300, which tracks the biggest stocks in Shenzhen and Shanghai, declined 0.5 per cent, mirroring opening-day setbacks in 2019, 2016, 2014 and 2012.