Hong Kong stock market finished session lower on Tuesday, 03 August 2021, following decline in Mainland A-share bourses, with online gaming stocks led losses after China's state media branded online gaming "opium" and likened it to a drug.
At closing bell, the benchmark Hang Seng Index declined 0.16%, or 40.98 points, to 26,194.82.
The Hang Seng China Enterprises Index fell 0.17%, or 16.22 points, to 9,320.38.
The sub-index of the Hang Seng tracking the commerce & industry sector fell 0.29% and the properties sector fell 0.3%, while the finance sector rose 0.06% and the utilities sector rose 0.04%.
Market risk sentiments dented after the Economic Information Daily, a newspaper of state-run Xinhua, blasted addiction among children to online games, likening them to spiritual opium and electronic drugs and singled out Honour of Kings, Tencent's top-grossing and most popular games.
Accusations of spiritual opium sent shares of the companies in the gaming industry tumbling amid fears a new regulatory chapter was about to begin. Gaming operators Tencent Holdings and NetEase tumbled by at least 6%, among the market's worst performers.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
Dear Reader,
Business Standard has always strived hard to provide up-to-date information and commentary on developments that are of interest to you and have wider political and economic implications for the country and the world. Your encouragement and constant feedback on how to improve our offering have only made our resolve and commitment to these ideals stronger. Even during these difficult times arising out of Covid-19, we continue to remain committed to keeping you informed and updated with credible news, authoritative views and incisive commentary on topical issues of relevance.
We, however, have a request.
As we battle the economic impact of the pandemic, we need your support even more, so that we can continue to offer you more quality content. Our subscription model has seen an encouraging response from many of you, who have subscribed to our online content. More subscription to our online content can only help us achieve the goals of offering you even better and more relevant content. We believe in free, fair and credible journalism. Your support through more subscriptions can help us practise the journalism to which we are committed.
Support quality journalism and subscribe to Business Standard.
Digital Editor
RECOMMENDED FOR YOU