HK shares fall narrowed to 1.2 pc

Hong Kong stocks closed 1.22 percent lower amid market concerns on worsening Sino-US tensions, after the fall narrowed down in the afternoon session helped by the mainland markets.

The benchmark Hang Seng Index once dropped to 19,252 points before closing at 19,447 points, with a turnover of HK$205.7 billion.

The US has added several Chinese technology companies, including gaming and social media giant Tencent (0700) and battery maker CATL as well as AI tech developer SenseTime Group (0020), into a list of businesses it says work with China's military.

Tencent declined 7.28 percent at HK$379.6 and SenseTime maintained at HK$1.33. Xiaomi (1810) retreated 5.92 percent at HK$34.15.

CATL closed 7.3 percent lower at 249.45 yuan (HK$264.59) in Shenzhen.

However, Chinese stocks ended the decline in the afternoon session and rose slightly, boosted by telecom shares as the country’s authorities unveiled its first document for the national data infrastructure development. 

The Shanghai SSE Composite Index closed at 3,229 points, up 22 points, while the Shenzhen's SZSE Composite Index closed at 9,998 points, up 113 points.

Yesterday, the National Development and Reform Commission, together with the National Data Administration and the Ministry of Industry and Information Technology, released guidelines on China’s data infrastructure development. 

The guidelines aim to promote the upgrading of traditional network infrastructure, and drive innovation in 6G network technology research and development.

(Cici Cao)