HSI edges down, NetEase slides on anti-involution seminar

Hong Kong stocks extended losses at Thursday’s open, as some tech shares were dragged by Beijing’s latest anti-involution effort.

The benchmark Hang Seng Index opened at 23,865, 27 points or 0.1 percent lower than the previous close.

The tech gauge also declined to 5,200, 0.6 percent lower from 5,231 on Tuesday.

China’s market regulator said it held the fourth seminar on fair competition for eight enterprises this year, including Goldwind Science & Technology (2208), Great Wall Motor (2333), Vipshop, NetEase (9999) and SF Express (6936),

Shares of NetEase dropped 2.04 percent to HK$201.6 apiece.

STAFF REPORTER