Hong Kong Market little changed

4 Jan 2022 , 07:27 PM

Hong Kong share market closed session marginally higher on Tuesday, 04 January 2022, as Beijings new cybersecurity rules overshadowed data showing signs of accelerating Chinas factory activity growth in December. At closing bell, the benchmark Hang Seng Index was up 0.06%, or 15.09 points, to 23,289.84. The Hang Seng China Enterprises Index fell 0.11%, or 8.60 points, to 8,180.16.

Shares of tech companies tumbled after Chinese regulatory authorities finalised cybersecurity review measures to tighten data oversight of its technology companies in offshore markets. China will put into effect on February 15 measures specifying circumstances that affect or may affect national security by network platform operators data processing activities Tencent Holdings declined 0.8% while Meituan and JD.com retreated by almost 2%.

Auto stocks gained after robust sales of vehicles. BYD jumped 2.8% after sales in December surged 76% from a year earlier.

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