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Kuaishou Slides After Fear of Industry Curbs Mar Solid Results

  • Users spent about 32% more time on Kuaishou in the quarter
  • The firm remains locked in competition with ByteDance
Updated on

Kuaishou Technology shares slid after a Wall Street Journal report stoked investors’ concerns about more curbs on China’s online video industry, dampening optimism over its better-than-expected results.

Its shares rose 8.3% in Hong Kong before reversing course to trade more than 2% lower after the Wall Street Journal reported regulators are considering restrictions on the livestreaming business including daily caps on tipping -- a key source of revenue for Kuaishou and its peers. Vice Premier Liu He will make a final decision on the proposed measures, which encompass more content censorship, the Journal reported, citing unidentified sources.