The Hang Seng
HSI,
-4.22%
dropped 5% in late trade on Tuesday, skidding on concerns over regulatory action. Of the major tech companies, Meituan
3690,
-17.66%
slumped 17%, Alibaba
9988,
-6.35%
BABA,
-7.15%
lost 9% and Tencent
700,
-8.98%
also fell 9%.