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Chinese Tech Stocks Fall as Tencent Shuts Game Streaming Site

  • Hang Seng Tech Index extends losses to a third session
  • Tencent said it will shut down Penguin Esports in June
The Tencent Holdings Ltd. headquarters.
The Tencent Holdings Ltd. headquarters.Photographer: Qilai Shen/Bloomberg
Updated on

Chinese tech stocks slid for a third day as Tencent Holdings Ltd.’s decision to shut its game streaming service further hurt sentiment in a sector already bogged down by regulatory risks. 

The Hang Seng Tech Index closed down 1.2% on Friday, having earlier shed as much as 3%. Video streaming firm Bilibili Inc. and Tencent supplier GDS Holdings Ltd. were among the worst performers. Meituan also weighed on the gauge, following news that Sequoia Capital reduced stakes.