BUZZ-China's Kuaishou leads slide in HK tech shares after firms pledge to avoid anti-competitive behaviours

Reuters2021-04-15

** Shares of Tencent-backed online video firm Kuaishou Technology lead slide in Hong Kong-listed technology stocks, falling as much as 9.7% to HK$235, their lowest since listing on Feb. 5

** Stock heads for worst session since Mar. 24; the biggest percentage decliner in the Hang Seng Tech Index and third-most actively traded shares by turnover

** A second batch of 11 Chinese internet platform companies, including Kuaishou, Bilibili Inc , Tencent , pledged to avoid anti-competitive behaviours, according to a statement from China's market regulator on Thursday

** Stock of Bilibili slips 2.1% to HK$799.50, the lowest since Mar. 30; Tencent slides 1.7%, the most actively traded by turnover

** Hong Kong shares of JD.Com , Alibaba Group

, and Baidu Inc fall more than 2%

** Both the Hang Seng sub-index tracking information technology firms and the Hang Seng Tech Index

fall 2%

** The Hang Seng China enterprises index drops 1.5%, and the benchmark index eases 1%

(Reuters Messaging: donny.kwok.thomsonreuters.com@reuters.net)

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