HONG KONG: Hong Kong shares slid on Thursday on news that Washington might impose restrictions on Tencent Holdings over concerns that the payment platform threatens its national security, while the market showed scant reaction to potential US stimulus. According to a Bloomberg News report, the United States is considering restrictions on Alibaba-backed Ant Group as well.
By midday, the Hang Seng index was down 189.12 points, or 0.78%, at 24,053.74, on track to snap four straight sessions of gains. China's H-shares index slid 0.69% to 9,562.76. The sub-index of Hang Seng tracking property fell 1.2%, and the energy index declined 1.07%.
IT sector slid 0.9%, Hang Seng Tech Index eased 0.56%, and the financial sector edged down 0.33%. Sunny Optical, which gained 2.31%, was the top gainer in the Hang Seng, while Xiaomi Corp was the top drag with a 4.84% drop.
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