Hong Kong’s Hang Seng Down 4% as Chinese Technology Stocks Continue to Fall

Shares in the Asia-Pacific region were mixed in trading Tuesday, July 27, as several major Chinese technology stocks in Hong Kong remained under pressure after falling on Monday.

Hong Kong’s Hang Seng fell 4.64% in afternoon trade, after falling more than 4% on Monday on the back of regulatory concerns surrounding China’s technology and private education sector.

Shares of the Hong Kong-listed Chinese technology giant Tencent fell 9.51% while Alibaba’s fell 7.81% and Meituan fell 15.53%. The Hang Seng Technology Index was down 8.82%.

On the other hand, Japanese stocks rose on Tuesday, July 27 due to the gains of the US market, with investors celebrating the results of companies, but the Nikkei index did not succeed in closing above the psychologically important level of 28 thousand points for the second consecutive session.

The Nikkei closed up 0.49% at 27,970.22 points, as the index did not exceed the 28 thousand level at the close since July 16.

The broader TOPIX index rose 0.64% to 1938.04 points.

In the US stock market, the three indexes of the S&P 500, Dow Jones and Nasdaq closed at record levels last night.