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China Tech Stocks Pare Gains After Reports on Online Video Curbs

  • Kuaishou reverses gains as news damps optimism from earnings
  • Mainland shares rally, with financials and property leading
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Chinese tech stocks trimmed gains as reports over fresh curbs facing the online video industry stoked renewed concern about Beijing’s regulatory crackdown. 

The Hang Seng Tech Index ended up 0.3% in Hong Kong, having earlier risen as much as 2.3%. Beijing is preparing new regulations on the live-streaming industry including a daily cap on tipping, according to a Wall Street Journal report. Later during afternoon trading, China’s regulators pledged to eradicate crimes including tax evasion on such platforms.