Asia-Pacific stocks are mixed as Chinese tech stocks in Hong Kong fall

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SINGAPORE – Stocks in Asia-Pacific were mixed on Friday morning, with investors monitoring Chinese tech stocks in Hong Kong after regulatory problems resurfaced.

Early Friday morning, Hong Kong-listed shares of Chinese tech companies fell. Kuaishou plunged 6.13% while Tencent slipped 0.83% and Meituan fell 1.36%. The larger Hang Seng Tech index fell 0.8%.

that of Hong Kong Hang Seng Index overall it fell 0.37%.

Bloomberg News reported that Beijing is considering tough sanctions on the carpooling giant Have I got. The planned penalties range from a fine likely higher than the record $ 2.8 billion Ali Baba paid earlier this year for even a forced delisting after Didi’s IPO last month.

Didi actions in the United States plunged more than 11% on Thursday. Earlier in July, the company was forced to stop registering new users and also had its app removed from Chinese app stores due to the alleged collection and use of personal data.

The development came as Beijing continues its months-long crackdown on Chinese tech giants, targeting issues ranging from antitrust to data regulation.

Asia-Pacific mixed markets

The larger Asia-Pacific markets struggled to navigate. In mainland China, the Shanghai Composite fell 0.23% while the Shenzhen component paid 0.393%.

South Korea Kospi rose 0.28%. In Australia, the S & P / ASX 200 hovered above the flat line.

The largest MSCI index for Asia-Pacific stocks outside of Japan traded broadly flat.

Markets in Japan are closed on Fridays for a public holiday.

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Overnight in the US, the Dow Jones Industrial Average rose 25.35 points to 34,823.35 while the S&P 500 gained 0.2% to 4,367.48. The Nasdaq Composite rose 0.36% to 14,684.60.

Currencies and oil

the US dollar index, which tracks the greenback against a basket of its peers, was at 92.795, above the 93 levels seen earlier in the week.

the Japanese yen was trading at 110.16 to the dollar, lower than the levels below 109.6 seen against the greenback earlier this week. the Australian dollar changed hands at $ 0.7385, above the below $ 0.732 levels seen earlier in the trading week.

Oil prices were lower on morning trading hours in Asia, with international benchmark Brent Crude Futures down slightly to $ 73.74 per barrel. U.S. crude futures contracts slipped 0.13% to $ 71.82 a barrel.

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